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Home > A2C > Chapter 3 > Lesson 3.2.3 > Problem 3-123


Billy Rich and Michael Million are two very wealthy, elderly men. Since neither of them have any heirs, they decide to give away all but $1 of their fortune before they die. Billy Rich has and is giving of his remaining money away each year. Michael Million has and is giving away of his money away each year. Who will get down to their final dollar first: Billy or Michael? How many years will it take each of them to give away their fortune? Justify your answer.

See the hint for problem 3-81 part (b).

Billy will take 35 years. Michael will take 48 years.