Handling Finances

This week has been rather crazy for me with some new responsibilities at my job and the hardest part is coming home and trying to feel productive (or happy being unproductive). It’s a dangerous feeling because it often leads to spending money — both to relieve boredom in the act of shopping and to try to buy stuff that will entertain me. Knowing why I feel like buying stuff helps me keep myself under control, and my budget is loose enough that I can afford to spend $100 on eating out and playing with photography, but it’s important to remember that spending money won’t help me feel more content.

Anyway, on to the riddles.

Last week, Rob, Patrick and Jennifer invested their money and earned 5.87%, 5.34% and 4.90% respectively. A year after they invested their money, their spouses, Linda, Rachel and Morgan took over investing and again, they each invested $10,000 at the start of the year at a fixed rate compounded monthly. This time, they were less open about their investing and while Morgan revealed that he had earned $600 in interest — as much in the year as Rachel had in 11 months, Rachel only revealed that she had earned as much in the last year as Linda had in only 11 months. How many months would it have taken Morgan to earn at least as much as Linda earned in 12 months?

This entry was posted on Saturday, March 15th, 2008 at 10:09 pm and is filed under Blogging, Weekly Riddle. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.