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i need your help with a math equation...
Published Oct. 3, 2008
Can anyone help me in solving this equation that follows???? Thanks in advance!
700,000,000,000 divided by 301,621,157 equals ?
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October 4, 2008 2:13 p.m.
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Bear Stearns financing: $29 billion
Fannie Mae and Freddie Mac nationalization: $200 billion
AIG loan and nationalization: $85 billion
Federal Housing Administration housing rescue bill: $300 billion
Mortgage community grants: $4 billion
JPMorgan Chase repayments: $87 billion
Loans to banks via Fed's Term Auction Facility: $200 billion+
Loans from Depression-era Exchange Stabilization Fund: $50 billion
Purchases of mortgage securities by Fannie Mae and Freddie Mac: $144 billion
POSSIBLE TOTAL: $1.8 trillion+ NUMBER OF HOUSEHOLDS PER U.S. CENSUS: 105,480,101 POSSIBLE COST PER HOUSEHOLD: $17,064+
http://news.cnet.com/8301-13578_3-10057618-38.html?tag=nl.e433
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2320.7921054423910985793347381132
(as reported earlier).
On a regular calculator, do 7000/3.01621157
If you can't enter that many digits, approximate it:
7000/3.0162 = 2320.80
It's accurate to within a penny (since you are trying to calculate the cost of the bail out per person).
Actually, though, it is the tax payer who will pay. There are less than 301 million tax payers so the per capita bail out invoice is higher.
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October 3, 2008 9:29 p.m.
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