Gates Foundation
If Gates have 5 billion dollars spare cash and he start giving away $ 500 every minute, how long would it take him to give away all the spare ?
Labels: logic
posted by Rajesh Lal at
3:07 PM
Wednesday, May 6, 2009
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20 Comments:
19.078144... years till he runs out of money
I get 19 years, 4 days, 10 hours and 40 minutes.
(That's 6944 days and 640 minutes.)
So if he stared at 12AM on Thursday, May 07, 2009 he would run out of cash on Thursday, May 11, 2028 at 10:40AM.
Ta-Ta.
You both neglected to consider the time value of money. Assuming that Gates isn't walking around with $5B in his pocket (considering that that's impossible), his money will be earning interest. Compounded Monthly at a modest 3% rate, his money would run out June 13, 2037; at 4%, which is aggressive although not unreasonable he'd spend his last pennies December 1, 2044.
Also wanted to add - Any rate over ~5.25% and he'd never run out of money.
Daniel you may be right but your getting way too technical on this one. the question never said to consider whether or not he was getting interest or whatever the was happening in your answer. so there for e and anonymous were right and you were wrong.
A VERY long time! ...
If we are neglecting to include interest that would be being earned (because no interest rate was stated) it would take 19 years, 9 days, 10 hours, and 40 minutes.
Daniel - with 5 billion dollars, it should be very easy to get an interest rate in excess of 5.25%, therefore according to your calculations there is no answer to this puzzle and he would never run out.
When he dies he has no more money. DUH!
From the May of the year 2009, 6944 days is 19-years and 4-days. The leap days are intercalculated in the year. (e.g.- You commonly call "a year" a year whether it is a leap year or not.)
If you say from the year 2009, 6944 days is 19-years and 9-days (i.e-6944 days divided by 365) you would be counting the leap days twice - once intercalculated in the "year" total and once again in the days total.
You would be correct if you said 19-"common years" and 9-days. But, that would be very confusing as the Gregorian calander has no interval with 19 common years in a row. So, eventually, down-the-line, you could have to make the corretion somewhere.
Interesting to note here...A year by itself is not a fixed amount of time, like you might imagine a yard stick or ruler. It varies from common year to leap year. Now, any 4-years in a row IS a fixed amount of time. But that will only hold-up for about the next 8000 years and the calander will need to be corrected again...
10000 minutes
omg you guys are turning something so simple into something so complicated there isn't any interest because it isn't in a bank or whatever. it is in his pocket or very large wallet. so no one was giving him intrest. the only thing i left out that i should have counted was the leap years. i personaly like the coment before mine 10000 minutes. it is exact and doesnt include any other extra stuf.
But 10000 minutes is the wrong answer. (FYI...10000 minutes is just under a week.)
oops your right its 10 000 000 minutes
He couldn't do it that way. After a few hours Bill would be exhauster and would have to take a long break. Even with lots of breaks, he would be so tired of it, he would quit, and hire a team to do it.
The trick is that The system used in the U.S. is not as logical as that used in other countries (like Great Britain, France, and Germany). In these other countries, a billion (bi meaning two) has twice as many zeros as a million, and a trillion (tri meaning three) has three times as many zeros as a million, etc. But the scientific community seems to use the American system.
from ttp://www.ask.com/bar?q=how+many+zero+in+billion&page=1&qsrc=19&ab=1&u=http%3A%2F%2Fwww.jimloy.com%2Fmath%2Fbillion.htm
There is no such thing as "spare" cash. Not even for a billionaire.
Assuming that he would have to have this cash with him, as to avoid acruing intrest, I would say not more than an hour or two. As soon as word got out that he had all that money on him, there would be a ton of people out to find him and steal all the money, and eventually this whole thing would either end up with someone getting killed or Gates deciding that maybe this wasn't such a good idea.
I'm not sure but I came with 19 years 5 days 10 hours 40 min.
I only got this answer becuause I started this year as a leap year dont ask me why but I did.
----------------------------
ok from what i understand i got:
500$/min.
30,000$/hour
720,000$/day
262,800,000$/year
1,051,920,000$/leap year (4 years + 1 day)
4,207,680,000$/4 leap years
--------------------------
After I recieved this info. I switch over to a table like graph to make things easier on me.
--------------------------
Key:
y = year(s) d = day(s)
h = hour(s) m = min(s)
i got:
16y = 4,207,680,000
17y = 4,470,480,000
18y = 4,733,280,000
19y = 4,996,080,000
19y 5d = 4,999,680,000
19y 5d 9h = 4,999,950,000
19y 5d 10h = 4,999,980,000
19y 5d 10h 40m = 5,000,000,000
To my last post I meant to start off with last year being a leap year.
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