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Good point but, does the difference make a significant difference for any one individual?dusty wrote: ↑Sat Mar 20, 2021 6:34 pm Statistically the FED breaks even by using their rounding procedure. The question though is do they round every number or only the final results?
Example: Add a number of different sources of income and then round .... or .... round each and every income item and then add.
Maybe! Either way. Large number of individuals leads to essentially no over all difference(assuming random numbers distribution).jsburger wrote: ↑Sat Mar 20, 2021 6:55 pmGood point but, does the difference make a significant difference for any one individual?dusty wrote: ↑Sat Mar 20, 2021 6:34 pm Statistically the FED breaks even by using their rounding procedure. The question though is do they round every number or only the final results?
Example: Add a number of different sources of income and then round .... or .... round each and every income item and then add.
I understand what people think. Why should I give the government money and earn no interest? I have about $5,000 in my checking account at the end of every month. The interest is around $0.25. I really don't care if I over pay. It is a nice bonus when I get a refund to do something fun with.reible wrote: ↑Sat Mar 20, 2021 1:44 pm I like to look at it this way. I'm getting back say $144 so lets just keep it simple if I had the whole $144 and invested it at the beginning of the year how much interest money would I get at the current interest rate. Keep in mind interest rates change and in this example I will use .50% since that is about what the market is right now. Now what would I do with that $.72???? Not much.
OK lets say that you average the amount over the 12 months and then use compound interest. That would be $12 each month deposited at the end of each month. That sounds better right? So now I have to figure out what to do with $.33.
Reality says one thing but numbers they sometimes bring reality into real world focus.
Ed
Edited to fix decimal point placement
