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Professor solves math equation, wins $700,000

Posted at 9:17 AM, Mar 17, 2016

(CNN NEWSOURCE) Oxford professor Andrew Wiles has won the 2016 Abel Prize -- described as the Nobel Prize of math.

And it comes with a hefty prize worth $ 700 thousand.

Wiles is being honored for proving what's known as Fermat's Last Theorem.

The equation was first formulated by French mathematician Pierre de Fermat in 1637.

It's stumped the world's brightest minds for more than 300 years.

In the 1990s, Wiles finally solved the problem and is now being honored.

An official ceremony by the Norwegian Academy of Science and Letters, featuring the Crown Prince of Norway, takes place in May.