OT: Math Problem

[Tigero]

I got this email a few minutes ago and I still didn't figure out the
answer.. Can you guys and gals give it a try


Bob got a bill of 450$, He Borrowed 250 from his father and 250 from
his mother so he got 500$

He paid the bill of 450$ so he got 50$ now.

He paid his father 10$ and 10$ for his mother. So he got 30$ left.

He owe his father 240$ and his mother 240$

240+240+30(he kept) = 510

Where did the extra 10$ came from?

[Xavier Henner]

Post by Tigero
I got this email a few minutes ago and I still didn't figure out the
answer.. Can you guys and gals give it a try
Bob got a bill of 450$, He Borrowed 250 from his father and 250 from
his mother so he got 500$
He paid the bill of 450$ so he got 50$ now.
He paid his father 10$ and 10$ for his mother. So he got 30$ left.
He owe his father 240$ and his mother 240$
240+240+30(he kept) = 510
Where did the extra 10$ came from?

From nowhere. The last line has no sense, you can't add debts and assets.

He received 480$, *including* the 30$ he kept.

His debts : 240+240
"His" money : 30

His net worth : -480 + 50 = -450 (he just change his creditors)

Now, he must stop playing wow, find a job and start paying his bills himself.

[Steve Kaye]

Post by Xavier Henner

Post by Tigero
I got this email a few minutes ago and I still didn't figure out the
answer.. Can you guys and gals give it a try
Bob got a bill of 450$, He Borrowed 250 from his father and 250 from
his mother so he got 500$
He paid the bill of 450$ so he got 50$ now.
He paid his father 10$ and 10$ for his mother. So he got 30$ left.
He owe his father 240$ and his mother 240$
240+240+30(he kept) = 510
Where did the extra 10$ came from?

From nowhere. The last line has no sense, you can't add debts and assets.
He received 480$, *including* the 30$ he kept.
His debts : 240+240
"His" money : 30
His net worth : -480 + 50 = -450 (he just change his creditors)

Just to avoid confusion here - that's a typo - it should be:

His net worth : -480 + 30 = -450

steve.kaye

[Lokie]

Post by Steve Kaye

Post by Xavier Henner
He received 480$, *including* the 30$ he kept.
His debts : 240+240
"His" money : 30

His net worth : -480 + 30 = -450

Post by Xavier Henner
Now, he must stop playing wow, find a job and start paying his bills himself.

He just transfered his debt from bill to parents.

Assumptions:
His parents are giving him a generous discount and only charing him 2%
interest yearly (0.17% monthly).
Instead of playing wow, he pays his parents back in installments of
$15/month, starting immediately. (Giving him +15 immediately to the
$30 he apparently has, which he then hands to his parents
immediately.)
He wises up and pays the $30 back immediately also, making the loan
the $450 that he owed in the first place.


450=15 * ( 1 + 1 / (1.0017^t ))/(.0017)
t=30.8 (months)

Meaning he will have paid his parents back in full at the end of the
31st month.

After almost 3 years of not playing WOW, I hope he learned a valueable
lesson about compound interest and the pitfalls of borrowing money.

-Lokie

[Blackheart - US - PvP]

Post by Tigero
I got this email a few minutes ago and I still didn't figure out the
answer.. Can you guys and gals give it a try
Bob got a bill of 450$, He Borrowed 250 from his father and 250 from
his mother so he got 500$
He paid the bill of 450$ so he got 50$ now.
He paid his father 10$ and 10$ for his mother. So he got 30$ left.
He owe his father 240$ and his mother 240$
240+240+30(he kept) = 510
Where did the extra 10$ came from?

he didn't. It's a fallacy.

and you should immediately delete chain letters of this sort and
permanently ignore the person sending them to you.

[Jamie Kahn Genet]

Post by Blackheart - US - PvP

Post by Tigero
I got this email a few minutes ago and I still didn't figure out the
answer.. Can you guys and gals give it a try
Bob got a bill of 450$, He Borrowed 250 from his father and 250 from
his mother so he got 500$
He paid the bill of 450$ so he got 50$ now.
He paid his father 10$ and 10$ for his mother. So he got 30$ left.
He owe his father 240$ and his mother 240$
240+240+30(he kept) = 510
Where did the extra 10$ came from?

he didn't. It's a fallacy.
and you should immediately delete chain letters of this sort and
permanently ignore the person sending them to you.

My problem is family have started sending me this crap.

[majale]

Post by Jamie Kahn Genet
My problem is family have started sending me this crap.

Then just give your parents their 500 bucks, they'll eventually stop.

[Orion Ryder]

Post by Tigero
I got this email a few minutes ago and I still didn't figure out the
answer.. Can you guys and gals give it a try
Bob got a bill of 450$, He Borrowed 250 from his father and 250 from
his mother so he got 500$
He paid the bill of 450$ so he got 50$ now.
He paid his father 10$ and 10$ for his mother. So he got 30$ left.
He owe his father 240$ and his mother 240$
240+240+30(he kept) = 510
Where did the extra 10$ came from?

Hey I got another one for you.

Actually the 240 should be negative because he "paid" it

So

(-240) + (-240) + 30 = -450

But he paid his mom and dad 10 each

so

-450 + (-10) + (-10) = -470

So what is he going to do with that 30 dollars he has now?

If he pays that to someone (maybe the Haiti relief fund) then we'll
get

-470 + (-30) = -500

So now he is out 500 bucks and he has nothing to show for it.

Send that around with your chain mail and you might be able to put
some people to sleep.

Orion

[pv+ (PV)]

Post by Tigero
Bob got a bill of 450$, He Borrowed 250 from his father and 250 from
his mother so he got 500$
He paid the bill of 450$ so he got 50$ now.
He paid his father 10$ and 10$ for his mother. So he got 30$ left.
He owe his father 240$ and his mother 240$
240+240+30(he kept) = 510
Where did the extra 10$ came from?

Fundamental accounting error on line one! *

[Lokie]

Post by Steve Kaye

Post by Xavier Henner
He received 480$, *including* the 30$ he kept.
His debts : 240+240
"His" money : 30

His net worth : -480 + 30 = -450

Post by Xavier Henner
Now, he must stop playing wow, find a job and start paying his bills himself.

He just transfered his debt from bill to parents.

Assumptions:
His parents are giving him a generous discount and only charing him
2%
interest yearly (0.17% monthly).
Instead of playing wow, he pays his parents back in installments of
$15/month, starting immediately. (Giving him +15 immediately to the
$30 he apparently has, which he then hands to his parents
immediately.)
He wises up and pays the $30 back immediately also, making the loan
the $450 that he owed in the first place.


450=15 * ( 1 + 1 / (1.0017^( t+1) ) ) / .0017
t=30.8 (months)


Meaning he will have paid his parents back in full at the end of the
31st month.


After almost 3 years of not playing WOW, I hope he learned a
valueable
lesson about compound interest and the pitfalls of borrowing money.

-Lokie

[Lokie]

Post by Lokie
450=15 * ( 1 + 1 / (1.0017^( t+1) ) ) / .0017
t=30.8 (months)
Meaning he will have paid his parents back in full at the end of the
31st month.
After almost 3 years of not playing WOW, I hope he learned a
valueable
lesson about compound interest and the pitfalls of borrowing money.
-Lokie

Not even an "lol"?

I figured there was a fellow nerd out there that would have
appreciated that one.