I was told there would be no math.

13 years ago

It's quite painful to read that people can't do basic math. More painful that so many didn't know how many millions there are in a trillion.

[ 1 ] Thanks

{{ DiscussionBoard.errors[8774281].message }}

Daniel Evans

13 years ago

Originally Posted by socialentry

a poll that same year asked, "How many millions are in a trillion?" and 79% of Americans either answered wrong or didn't know.

"79% of a selected group of Americans either answered wrong or didn't know."

With such apparent concern of arithmetic and statistics this is poor grammar!

[ 1 ] Thanks
1 reply

{{ DiscussionBoard.errors[8774815].message }}

Horny Devil

Banned 13 years ago

Originally Posted by socialentry

. . . a poll that same year asked, "How many millions are in a trillion?" and 79% of Americans either answered wrong or didn't know.

Even George Bush had a similar problem . . .

Donald Rumsfeld was giving the president his daily briefing. He concluded by saying: "Yesterday, 3 Brazilian soldiers were killed."

"OH NO!" the President exclaims. "That's terrible!"

His staff sat stunned at this display of emotion, nervously watching as the President sits, head in hands.

Finally, the President looks up and asks, "How many millions is a brazillion?"

[ 4 ] Thanks
1 reply

{{ DiscussionBoard.errors[8775055].message }}

alistair

13 years ago

Originally Posted by Horny Devil

Even George Bush had a similar problem . . .

Donald Rumsfeld was giving the president his daily briefing. He concluded by saying: "Yesterday, 3 Brazilian soldiers were killed."

"OH NO!" the President exclaims. "That's terrible!"

His staff sat stunned at this display of emotion, nervously watching as the President sits, head in hands.

Finally, the President looks up and asks, "How many millions is a brazillion?"

Yeah, and? How many is it then?

Thanks
1 reply

{{ DiscussionBoard.errors[8775196].message }}

tagiscom

13 years ago

I didn't have a problem with the $242 one, but l have done a business course recently, so l find the Mary bought home 3.5 Apple questions to be relatively easy!

Most people would probably just Google it!

I hope that they interviewed people across the board, if it was just factory workers only, then apart from it not being a surprise, the results can be biased?

But assuming they aren't, then the numbing down of Americans or Australians for that matter is a real concern!

Maybe the Fluoride, and possible Smart Metres, are creating more stupid people?

Shane

Thanks
1 reply

Signature

`

{{ DiscussionBoard.errors[8775377].message }}

Kay King

13 years ago

There's definitely a dumbing down - and people think it doesn't matter. After all, they can always "look it up", can't they? I've heard the argument from school kids - they wonder why they need to learn history or geography when they can simply "look it up online" if they ever need to know.

Technology is amazing and the info stream will only continue to grow. The danger is in allowing a technology info stream to replace a human being's connection with the real world and using his own mind to solve problems.

You can learn about trees, and forests and wildlife - all of it coming to you via info technology. Nothing, however, can replace the experience of walking through the forest. We need technology to enhance our experiences - not to replace the experience.

Thanks
1 reply

Signature

Saving one dog will not change the world - but the world changes forever for that one dog

***

https://www.pawsofwar.org/

2024 Patriot's Award for Service to Veterans

{{ DiscussionBoard.errors[8775564].message }}

Dan Riffle

13 years ago

Originally Posted by Kay King

Technology is amazing and the info stream will only continue to grow. The danger is in allowing a technology info stream to replace a human being's connection with the real world and using his own mind to solve problems.

This is a problem. We're constantly barraged with so much information we no longer have time to actually think about it, process it. We can recite information ad nauseam, but how much do we actually know?

Thanks

Signature

Raising a child is akin to knowing you're getting fired in 18 years and having to train your replacement without actively sabotaging them.

{{ DiscussionBoard.errors[8776405].message }}

mojojuju

13 years ago

Is it a metric trillion or an imperial trillion?

Thanks
1 reply

Signature

:)

{{ DiscussionBoard.errors[8776385].message }}

Dan Riffle

13 years ago

Originally Posted by mojojuju

Is it a metric trillion or an imperial trillion?

Related question: how many billion pounds are in a metric crap ton?

Thanks
1 reply

Signature

Raising a child is akin to knowing you're getting fired in 18 years and having to train your replacement without actively sabotaging them.

{{ DiscussionBoard.errors[8776399].message }}

seasoned

13 years ago

Originally Posted by Dan Riffle

Related question: how many billion pounds are in a metric crap ton?

crap ton?

Two questions you can NEVER ask!

1. What is a billion?
2. What is 1/2/2013?

WHY?

#1? AMERICANS would say 1000 million. Many others would say a million million!
#2? AMERICANS would say 2nd of january 2013. Many others would say 1st of february 2013!

BTW you can ALSO never ask how many grams in an ounce, how many ounces in a pound, etc....

Steve

Thanks
1 reply

{{ DiscussionBoard.errors[8776840].message }}

Dan Riffle

13 years ago

Originally Posted by seasoned

crap ton?

Steve

Did someone shut down your humor recognition app, Steve?

Thanks
1 reply

Signature

Raising a child is akin to knowing you're getting fired in 18 years and having to train your replacement without actively sabotaging them.

{{ DiscussionBoard.errors[8776877].message }}

seasoned

13 years ago

Originally Posted by Dan Riffle

Did someone shut down your humor recognition app, Steve?

NOPE!.....

Thanks
1 reply

{{ DiscussionBoard.errors[8777068].message }}

Dan Riffle

13 years ago

Originally Posted by seasoned

NOPE!.....

Touche.........

Thanks
1 reply

Signature

Raising a child is akin to knowing you're getting fired in 18 years and having to train your replacement without actively sabotaging them.

{{ DiscussionBoard.errors[8777079].message }}

Claude Whitacre

13 years ago

Originally Posted by Dan Riffle

Touche.........

Dan; Contrary to what you were let to believe, "Touche" is not French for "Touch Me".

Tis the season.

Originally Posted by Dan Riffle

That was my first thought. My second though was, monthly, why not compounded daily?

Blah, blah, blah, Claude, blah, blah, come in, blah, blah, blah, blah, clown costume,blahhhh!

(Your words, not mine)

I used to sell an investment that was "8% compounded monthly". Which meant it was an annual rate of 8%, and the monthly portion of that 8% interest was compounded monthly. The effect was negligible, but it sure sounded good. It was also impossible to calculate.

[ 1 ] Thanks
1 reply

Signature

One Call Closing book https://www.amazon.com/One-Call-Clos...=1527788418&sr

"Be kind. For everyone you meet is fighting a great battle" Ian Maclaren

{{ DiscussionBoard.errors[8777093].message }}

seasoned

13 years ago

Originally Posted by Claude Whitacre

I used to sell an investment that was "8% compounded monthly". Which meant it was an annual rate of 8%, and the monthly portion of that 8% interest was compounded monthly. The effect was negligible, but it sure sounded good. It was also impossible to calculate.

I figured it out. 8% annual=8%APY. 8% annual, compounded monthly=8.299950680751% annual, approximately. With the rule of 72, that is ~8.675 v 9 years to double your money. OBVIOUSLY daily compounding would even get you MORE. On $1,000,000 principle, that is an extra ~$2999.51 more each year! So it all adds up.

Steve

Thanks
1 reply

{{ DiscussionBoard.errors[8777324].message }}

David Beroff

13 years ago

Originally Posted by Claude Whitacre

I used to sell an investment that was "8% compounded monthly". Which meant it was an annual rate of 8%, and the monthly portion of that 8% interest was compounded monthly. The effect was negligible, but it sure sounded good. It was also impossible to calculate.

Originally Posted by seasoned

I figured it out. 8% annual=8%APY. 8% annual, compounded monthly=8.299950680751% annual, approximately.

It's possible you are being too kind, Steve. Companies that want you to borrow from them tend to stress the APR; those that want you to invest with them tend to promote their APY. (See APR and APY: Why Your Bank Hopes You Can't Tell The Difference.)

What Claude was selling more likely had an APY of 8%. To get the APR, you just take the twelfth root of 1.08, i.e., 7.72%. Still a significant difference, but to the investment firm's favor.

Speaking of which, I'm toying with the idea of investing with Prosper, who are offering as much as 9% to 11% APY at the high end. Does anyone here have any thoughts on them?

Thanks
1 reply

Signature

Put MY voice on YOUR video: AwesomeAmericanAudio.com

{{ DiscussionBoard.errors[8777651].message }}

tagiscom

13 years ago

Originally Posted by David Beroff

It's possible you are being too kind, Steve. Companies that want you to borrow from them tend to stress the APR; those that want you to invest with them tend to promote their APY. (See APR and APY: Why Your Bank Hopes You Can't Tell The Difference.)

What Claude was selling more likely had an APY of 8%. To get the APR, you just take the twelfth root of 1.08, i.e., 7.72%. Still a significant difference, but to the investment firm's favor.

Speaking of which, I'm toying with the idea of investing with Prosper, who are offering as much as 9% to 11% APY at the high end. Does anyone here have any thoughts on them?

I did the math on which mobile phone plan was the cheapest!

It took about 4 months, and drove me a bit nuts!

When you sift through all the gobbly-gook math, all plans are basically the same, but as this thread has said, most wouldn't bother!

Shane

Thanks

Signature

`

{{ DiscussionBoard.errors[8777909].message }}

Dennis Gaskill

13 years ago

Originally Posted by socialentry

I

Here's an example:
"Let's say you have 200 dollars in a savings account. The account earns 10 percent interest per year.

Maybe the account holder should look for a new bank -- one that pays interest monthly.

Thanks
2 replies

Signature

Just when you think you've got it all figured out, someone changes the rules.

{{ DiscussionBoard.errors[8776417].message }}

ThomM 13 years ago

Originally Posted by Dennis Gaskill

Maybe the account holder should look for a new bank -- one that pays interest monthly.

My mother was a bookkeeper for a bank and when computers were nothing more then keypunch machines I would help updating interest on peoples accounts.
So when I read that question my first thought was "how is the interest accrued?"
- [ 1 ] Thanks
Signature

Life: Nature's way of keeping meat fresh
Getting old ain't for sissy's
As you are I was, as I am you will be
You can't fix stupid, but you can always out smart it.
{{ DiscussionBoard.errors[8776515].message }}

David Beroff

13 years ago

Originally Posted by Dennis Gaskill

Maybe the account holder should look for a new bank -- one that pays interest monthly.

They found a bank that offers 10% APY on US$200 and you think they should change banks!?!?

[ 2 ] Thanks
2 replies

Signature

Put MY voice on YOUR video: AwesomeAmericanAudio.com

{{ DiscussionBoard.errors[8776711].message }}

Dennis Gaskill 13 years ago

Originally Posted by David Beroff

They found a bank that offers 10% APY on US$200 and you think they should change banks!?!?

Yes, as long as we're talking about imaginary banks they might as well use one that pays monthly ... and it should have free popcorn.
- Thanks
Signature

Just when you think you've got it all figured out, someone changes the rules.
{{ DiscussionBoard.errors[8776722].message }}

Dan Riffle

13 years ago

Originally Posted by David Beroff

They found a bank that offers 10% APY on US$200 and you think they should change banks!?!?

That was my first thought. My second though was, monthly, why not compounded daily?

Now, watch for Claude to come in and say I've used up all my thoughts for the day.

[ 1 ] Thanks
1 reply

Signature

Raising a child is akin to knowing you're getting fired in 18 years and having to train your replacement without actively sabotaging them.

{{ DiscussionBoard.errors[8776726].message }}

seasoned

13 years ago

Originally Posted by Dan Riffle

That was my first thought. My second though was, monthly, why not compounded daily?

Now, watch for Claude to come in and say I've used up all my thoughts for the day.

GOOD POINT! Many such values ARE compounded daily!

BTW How many days in a year? Many financial formulas say 360! How many days in a month? Many financial formulas say 30!

Steve

Thanks
2 replies

{{ DiscussionBoard.errors[8776845].message }}

Dan Riffle

13 years ago

Originally Posted by seasoned

GOOD POINT! Many such values ARE compounded daily!

BTW How many days in a year? Many financial formulas say 360! How many days in a month? Many financial formulas say 30!

Steve

You are correct, sir. Every bank I've worked for has used 30 and 360 for calculation purposes.

Thanks

Signature

Raising a child is akin to knowing you're getting fired in 18 years and having to train your replacement without actively sabotaging them.

{{ DiscussionBoard.errors[8776872].message }}

David Beroff 13 years ago

Originally Posted by seasoned

BTW How many days in a year? Many financial formulas say 360!

Ironically, I recently derived a formula for effective APY, and I used 365.24.
- Thanks
Signature

Put MY voice on YOUR video: AwesomeAmericanAudio.com
{{ DiscussionBoard.errors[8776895].message }}

HeySal

13 years ago

What the heck difference does this all make anyway unless there's a free toaster in the deal?

Thanks

Signature

Sal
When the Roads and Paths end, learn to guide yourself through the wilderness
Beyond the Path

{{ DiscussionBoard.errors[8778078].message }}

I was told there would be no math.

Trending Topics

Lightening strikes :(

If you had to start over today -- what would you do ?

" It is what it is" ... overused way too much imo

What would you do without the Internet ??

Are you into the Stock Market??