In the wake of two major hurricanes last month, Americans have shown their generosity by donating money and volunteering their time.
We have read about J.J. Watt raising more than $27 million for relief efforts in Houston, Odell Beckham pledging $100,000, and even President Trump pledging $1,000,000.
For this month's problem:
Donald Trump's net worth is estimated to be 3.5 billion dollars. He pledged one million dollars for relief efforts.
Determine the amount of money that the average American in each of the seven age groups below should donate if that individual wants to be as generous as Donald Trump.
The data shown below was taken from the U.S. Census Bureau, Survey of Income and Program Participation, released in 2013 and "dated" as 2011.
Figures of net worth include home equity. The data is only compiled every ten years, so the next release will be in 2021.
Age Range Median Net Worth
Less than 35 $6,676
35-44 $35,000
45-54 $84,542
55-64 $143,964
65-69 $194,226
70-74 $181,078
75 or more $155,714
Solution to the Problem:
Since President Trump pledged $1,000,000 and his net worth is $3,500,000,000, the percentage of his net worth that he pledged was .02857% or .0002857.
Here are the amounts that each of the seven age groups would donate at the same rate as Donald Trump (.02857%):
Age Range Net Worth Donation
< 35 $6,676 $1.91
35-44 $35,000 $10.00
45-54 $84,542 $24.15
55-64 $143,964 $41.13
65-69 $194,226 $55.49
70-74 $181,078 $51.74
>75 $155,714 $44.49
Correctly solved by:
| 1. Bob Currie |
R E Campbell Company, Houston, Texas |
| 2. James Alarie | Flint, Michigan |
| 3. Brijesh Dave | Mumbai City, Maharashtra, India |
| 4. Ashlee Rudy |
Mountain View High School, Mountain View, Wyoming |
| 5. Trinity Brown |
Mountain View High School, Mountain View, Wyoming |
| 6. Frankie Jenkins |
Mountain View High School, Mountain View, Wyoming |
| 7. Ivy Joseph | Pune, Maharashtra, India |