A Dillonvale, Ohio, man saved pennies for 65 years. When he finally decided to cash them in,
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Question:
A Dillonvale, Ohio, man saved pennies for 65 years. When he finally decided to cash them
in, he had roughly 8 million of them (or $80,000 worth), filling 40 trash cans. On average,
the man saved $1,230 worth of pennies a year. If he had deposited the pennies saved eachyear, at each year's end, into a savings account earning 5 percent compound annual interest,
how much would he have had in this account after 65 years of saving?
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