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How is your math???

FishMan1969

By FishMan1969,
in Dinar Rumors

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Phil b
Phil b

Emmmm ! No need to be abusive, when you put forward a file from a website which you state shows such and such, you should also expect people to go to that site and see it for themselves. If everythi

Phil b
Phil b

HAHA So now show me a website that proves that the figures given are actualy real and not imposed on your attched file ! In my view this is just another exercise in misleading people with useless in

hoonos
hoonos
FishMan1969 Newbie

FishMan1969

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<div><font class="Apple-style-span" color="#5D5D5D" face="tahoma, arial, verdana, sans-serif"><span class="Apple-style-span" style="font-size: small;"><b><br></b></span></font></div>

Some of you obviously "KNOW" your investment.....

Others, you better learn it cause you just shorted yourself 3.6 MILLION DOLLARS.... (those that answered 258,000).

Better "LEARN" your investment.

AFTER REVIEWING ALL THE RESPONSES, I KNOW WHO'S POSTS I WILL READ FROM NOW ON.

IT WAS THOSE PEOPLE THAT I KNEW WOULD GET THE RIGHT ANSWER....!!!

GREAT WORK ....

AND "YES" the spreadsheet was doctored as I mentioned in the initial post...!!! I did say "IF" the spreadsheet were to look like this..... etc...

If the spreadsheet was Not Doctored, We would all be rich right now....

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Banjolatusak Newbie

Banjolatusak

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Congratulations to all who correctly answered the question with $3,875,968.99. But... If I was teaching I would downgrade you all for not showing your work. It should look like this... 1iqd/$.258 = $3.759689 X 1,000,000.00 = $3,875,968.90. When I was a gradeschooler the ones that were correct were always asked to help those who got it wrong. Showing your work illustrates that you understand the process and demonstrates your reasoning skills. Help your neighbor. You never know when you'll need their help. Peace be with you.

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FishMan1969 Newbie

FishMan1969

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Conversion charts can be confusing because of the reference currency.

If the conversion is from USD to IQD it will be one rate

If the conversion is from IQD to USD it will be another rate.

When converting make sure you know which direction you are going before just using a "Times" symbol on a calculator.

We had some good explanations by Doc and Carolina, so "thanks"...

If going from USD to IQD right now you will see a number of around 1170.

If going from IQD to USD right now you will see a number of 0.00085

In the spreadsheet that the UN publishes on the web, it is a exchange chart from USD to IQD.

SO, if the number is greater than 1, you can get more IQD's than the amount of dollars you have.

If the number is less than 1, (which is what we want) you get less IQD's than the amount of dollars you have.

So as DOC31 has stated:

you have to convert the direction you are trying to go... We are going from IQD's back to USD.

Therefore take the published rate, (which the next date scheduled to be published is Sept 13th, the day to really look at this spreadsheet) and DIVIDE 1 by the number in the chart, THEN multiply by the amount of IQD that you hold and it will equal the amount of USD's that it is worth on that day (or two days later as the effective date according to the UN site).

Like I stated, it can be confusing to some people and that is OK... Just try to understand it the best you can and LEARN. Thats what everyone should be doing around this site.

I just learned about this chart last month from the Scooter post giving the link: http://www.un.org/Depts/treasury/ thanks to Scooter for the post or I would have not known about this chart..... We can all learn something everyday!!!

Good luck and I sure hope we see a number LESS than 1 in this spreadsheet on Sept 13, 2010 (effective Sept 15, 2010).

Example shown in the spreadsheet:

1/.258 = 3.875968

If you hold 1,000,000 IQD then 1,000,000 IQD x 3.875968 USD per IQD = 3,875,968 USD

Thus, the lower the number in the UN spreadsheet (example showed .258) means MORE money for us in this investment....

The spread and taxes and charitable giving will be coming out of that initial exchange amount shown...

Lets all hope for a REALLY low number in the UN spreadsheet..!!!!!!!! biggrin.gifbiggrin.gifbiggrin.gifbiggrin.gifbiggrin.gif

I really hope this helps some people...

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pdx4me Newbie

pdx4me

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I really like your comment about using logic, reasoning, and understanding basic principles of problem-solving (math). Can I blame my "wrong" answer to your math question on our education system? I remember that the “Nation At Risk” report was issued during the Reagan presidency and it warned that our nation was facing a “rising tide of mediocrity” in American schools. Today the US ranks #21 out of 29 Organization for Economic Cooperation and Development (OECD) countries in mathematics scores, with nearly one-quarter of students unable to solve the easiest level of questions. Despite tax-payer spending of $11,000 per student on K-12 education (2nd most in the world), American businesses and institutions of higher learning dedicate approximately $16.6 billion each year to remedial education for millions of high school graduates who still lack basic skills.

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MrRich Newbie

MrRich

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U lost me. If the rate is less than 1. to 1. how can it be 3 times more. 1,000,000.00 X .258. Point two five eight is less than 1. Please explane.

You divide by .258, not multiply. If the dollar was worth 3 times the dinar the rate would be 3. If the dinar is worth three dollars the rate would be .333. Comprende?

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MrRich Newbie

MrRich

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Taka another look at the speadsheet. The .258 is in a much smaller font than any other number on the sheet. I say it is been manipulated. <_<

Yes it has been manipulated for the purpose of this exercise. FishMan stated that earlier.

RandolphA ... I was confused at first too. The right column is the value of the USD vs. the respective currencies. I guess this lesson is about reading comprehension as much as it is math.

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Unitedrich Newbie

Unitedrich

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Just tring to figer out how to read the sheet. When I look at it I see 1 IQD = .258 or rounded to about $0.26 US to 1 IDQ. Not saying you are wronge just wondered how to look at it to get 1IQD = $3.875968

Its pretty basic actually.

258 gallons of water fits into a thousand gallon tank how many times? 3.875 times. So if 1.00 represents 1 dollar, and .258 represents the value of the dollar against the dinar, then the dinar is worth roughly 3.875 or 1.00/.258.

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FishMan1969 Newbie

FishMan1969

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FISHMAN where did u get this info????

From a prior post:

I just learned about this chart last month from the Scooter post giving the link: http://www.un.org/Depts/treasury/ thanks to Scooter for the post or I would have not known about this chart..... We can all learn something everyday!!!

Once again, thanks SCOOTER for pointing this resource out to all of us....

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FishMan1969 Newbie

FishMan1969

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I just checked out the UN exchange rates and NEVER saw any rate for IRAQ???????

Am I looking in the wrong place ? I looked here http://www.un.org/Depts/treasury/

Then clicked on the excell sheet to find no such number !!

Please tell me I'm wrong !

Tell you that you are wrong?

Ok, "you are wrong"!

Happy?

Tell you that you are wrong?

Ok, "you are wrong"!

Happy?

March 1, 2010 was the last change noted on the spreadsheet..

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Phil b Newbie

Phil b

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Tell you that you are wrong?

Ok, "you are wrong"!

Happy?

March 1, 2010 was the last change noted on the spreadsheet..

HAHA

So now show me a website that proves that the figures given are actualy real and not imposed on your attched file !

In my view this is just another exercise in misleading people with useless info etc.

Sorry just my opinion uless of course you can give us all the link to see it for ourselves.

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FishMan1969 Newbie

FishMan1969

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HAHA

So now show me a website that proves that the figures given areactually real and not imposed on your attched file !

In my view this is just another exercise in misleading people with useless info etc.

Sorry just my opinion uless of course you can give us all the link to see it for ourselves.

Yes, you caught me!!!!!!!

I am misleading people to go to the UN web site official exchange rate spreadsheet.. I am sooooooo ashamed.

Get a grip newbie and know that if you degrade people that are trying to do a good thing for people you will get about a million negatives to your profile.

If you feel I am a "misleader", run the opposite way from any insight I have to offer you and I wish you well..

Good day!

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Phil b Newbie

Phil b

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Emmmm !

No need to be abusive, when you put forward a file from a website which you state shows such and such, you should also expect people to go to that site and see it for themselves. If everything you state is correct then there is no problem what so ever, however when people go to that website and see no such thing then obviously they will think that YOU are misleading people.

SEND ME A MILLION NEGATIVES GO RIGHT AHEAD,

Then prove to us all that the information you state is also correct, also where exactly we can find it ourselves. Please feel free to post the link right here, not a manipulated file which you have posted.

By the way we are all waiting for the link, I will admit I am wrong and take it all back when you show us the link !!!!!

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