SOLUTION: as of october 2009, the united states federal debt was 11,963,668,027,500. if each of the 307,000,000 people in the united states paid an extra $1000 in taxes each year, every year

Algebra ->  Probability-and-statistics -> SOLUTION: as of october 2009, the united states federal debt was 11,963,668,027,500. if each of the 307,000,000 people in the united states paid an extra $1000 in taxes each year, every year      Log On


   

Question 1109333: as of october 2009, the united states federal debt was 11,963,668,027,500. if each of the 307,000,000 people in the united states paid an extra $1000 in taxes each year, every year, how many years would it take to pay off this debt?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
as of october 2009, the united states federal debt was 11,963,668,027,500. if each of the 307,000,000 people in the united states paid an extra $1000 in taxes each year, every year, how many years would it take to pay off this debt?
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Amt paid each year:: 307000000*1000 = 307*10^9
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# of years to pay off debt:: 11963669027500/(307*10^9) = 30.96 years
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Cheers,
Stan H.
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