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May 7, 2024

[Ans] What is the estimated lifespan of a U.S. $1 bill?

Step 1 : Introduction to the question "What is the estimated lifespan of a U.S. $1 bill?"



According to the U.S. Federal Reserve, the wear and tear of paper money is gauged by sophisticated processing equipment in order to determine its remaining lifespan. Those not up to scratch are removed from circulation and destroyed. The lifespan of a one dollar bill is a bit longer than you might expect. The Federal Reserve says the average life of a $1 bill in circulation is 6.6 years before it is replaced because of wear and tear. The average lifespan of a $100 bill is 22.9 years while a $20 bill lasts just 7.8 years. Source: FederalReserve.gov




Step 2 : Answer to the question "What is the estimated lifespan of a U.S. $1 bill?"



6.6 years:


According to the U.S. Federal Reserve, the wear and tear of paper money is gauged by sophisticated processing equipment in order to determine its remaining lifespan. Those not up to scratch are removed from circulation and destroyed. The lifespan of a one dollar bill is a bit longer than you might expect. The Federal Reserve says the average life of a $1 bill in circulation is 6.6 years before it is replaced because of wear and tear. The average lifespan of a $100 bill is 22.9 years while a $20 bill lasts just 7.8 years. Source: FederalReserve.gov


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