Would you rather have a million dollars right now? (no taxes) or have a penny doubled every day for a month?
(I know the answer - just wondering how many more out there will figure it out?!!)
2006-09-09 17:35:49 · 22 answers · asked by EJ 3 in Business & Finance ➔ Personal Finance
Bring on the pennies!!! I heard that before, but never took the time to figure it out until now! So...I guess as long as I know I'm going to be alive in 30 days...I'll take the pennies.
Day 1 .1
Day 2. .2
Day 3 .4
Day 4 .8
Day 5 .16
Day 6 .32
Day 7 .64
Day 8 1.28
Day 9 2.56
Day 10 5.12
Day 11 10.24
Day 12 20.48
Day 13 40.96
Day 14 81.92
Day 15 163.84
Day 16 327.68
Day 17 655.36
Day 18 1310.72
Day 19 2621.44
Day 20 5242.88
Day 21 10485.76
Day 22 20971.52
Day 23 41943.04
Day 24 83886.08
Day 25 167772.16
Day 25 335544.32
Day 26 671088.64
Day 27 134217.72
Day 28 - Oh yea!!!
2006-09-09 17:49:33 · answer #1 · answered by Dorothy 5 · 1⤊ 0⤋
The penny doubled every day for a month would probably add up to more than a mil but I'll go with the million right now...tax free.
2006-09-09 17:40:45 · answer #2 · answered by Anonymous · 1⤊ 0⤋
A penny doubled every day for a month (no taxes) since it would be significantly more than 1 million dollars.
2006-09-09 17:41:17 · answer #3 · answered by Kami 6 · 1⤊ 0⤋
Penny doubled every day for a month is a lot more money.
2006-09-09 18:22:14 · answer #4 · answered by Phil 4 · 1⤊ 0⤋
I would rather have the penny doubled every day for two months.
2006-09-09 17:41:56 · answer #5 · answered by Shaula 7 · 1⤊ 0⤋
A penny doubled every day for a month... I like pennies.
2006-09-09 17:37:26 · answer #6 · answered by Anonymous · 2⤊ 0⤋
the million right now,and then I could double lots of pennies every month!
2006-09-09 17:41:12 · answer #7 · answered by Anonymous · 2⤊ 0⤋
If you DOUBLED the penny for 28, 29, 30 & 31 days it would work out to be:
DAY 1: 0.01¢
DAY 2: 0.02¢
DAY 3: 0.04¢
DAY 4: 0.08¢
DAY 5: 0.16¢
DAY 6: 0.32¢
DAY 7: 0.64¢
DAY 8: $ 1.28
DAY 9: $ 2.56
DAY 10: $ 5.12
DAY 11: $ 10.24
DAY 12: $ 20.48
DAY 13: $ 41.96
DAY 14: $ 83.92
DAY 15: $ 167.84
DAY 16: $ 335.68
DAY 17: $ 671.36
DAY 18: $ 1,342.72
DAY 19: $ 2,685.44
DAY 20: $ 5,370.88
DAY 21: $ 10,741.76
DAY 22: $ 21,483.52
DAY 23: $ 42,967.04
DAY 24: $ 85,934.08
DAY 25: $ 171,868.16
DAY 26: $ 343,736.32
DAY 27: $ 687,472.64
DAY 28: $ 1,374,945.28
DAY 29: $ 2,749,890.56
DAY 30: $ 5,499,781.12
DAY 31: $10,999,562.24
DON'T FORGET, DECIMAL POINTS IN THE CORRECT PLACE MATTERS!!!
AS WELL AS PLACING THE COMMAS IN THEIR CORRECT PLACE!!!
2006-09-09 18:59:38 · answer #8 · answered by jennifersuem 7 · 0⤊ 0⤋
I'd take the penny doubled every day for a month.
In the case of a 30 day month, you'll have $10,737,418.24.
In the case of a 31 day month, you'll have $21,474,836.48.
And of course to keep things interesting, if the month was February, you'd have $2,684,354.56 if it was a non leap-year, and $5,368,709.12 if it was a leap year (29 days).
Much better than a million bucks.
2006-09-09 17:43:59 · answer #9 · answered by agbrisco 4 · 1⤊ 0⤋
Oh the penny- of course! -Problem IS, carrying those sacks & sacks of pennies off to the bank at the end of the month- is NOT going to be a picnic. PLUS, there's no guarantee the bank will take them (whereas the million $ check- they'll have NO problem with!). So you place your bets & takes your chances... :)
2006-09-09 17:47:17 · answer #10 · answered by Joseph, II 7 · 1⤊ 0⤋