Use the data in this story to estimate the annual earnings of the average American. Do you think the estimate is reasonable?

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter2: Equations, Inequalities, And Problem Solving
Section2.S: Summary
Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?
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In The Boston Globe on September 30, 2015 you could read that Warren Buffet is worth 
$62 billion, and that. . .if he gave up on aggressive investing and put his money into a 
simple savings account, with returns at a bare 1 percent, he’d earn more in interest each 
hour than the average American earns in a year.
Use the data in this story to estimate the annual earnings of the average American. Do you think the estimate is reasonable? 

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