Captain Packrat (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
captpackrat) wrote2008-04-11 09:28 pm
captpackrat) wrote2008-04-11 09:28 pm
It's math time!
If you have a $200 investment that earns 10% per year, and you let the money grow, how much money would you have total at the end of 2 years?
If you're like 34% of Americans, you answered $240. And you answered wrong.
Only 18% of Americans surveyed got the correct answer, $242. (It's $20 interest for the first year, then $22 interest on $220 for the second year.)
Amazingly, 48% of Americans either gave an even worse answer or copped out. No wonder the economy is in the toilet.
If you're like 34% of Americans, you answered $240. And you answered wrong.
Only 18% of Americans surveyed got the correct answer, $242. (It's $20 interest for the first year, then $22 interest on $220 for the second year.)
Amazingly, 48% of Americans either gave an even worse answer or copped out. No wonder the economy is in the toilet.
no subject
That is a correct answer for a starting value of $100