If someone gives you a penny but doubles the amount everyday (like day 1-1 penny, day 2- 2 pennies,day 3- 4 pennies) how much money would you have after 30 days.
2006-10-29 03:34:19 · 6 answers · asked by *Star* 1 in Business & Finance ➔ Personal Finance
The right answer is $10,737,418.23. If you want a way to figure it out you could use Excel. Or you will note that the total sum that you have after any number of days is:
2^(number of days) - 1 (in cents)
2006-10-29 05:06:05 · answer #1 · answered by c 3 · 0⤊ 0⤋
none. Because 1. you accepted a penny, that suggests your economic health is very bad. 2. You will have the assurance that your allowance will be doubled, hence you will do speculative consumptions on credit.3. You will tend to be extravagent, because after all the windfall was after such a long time.4. You will not know when to stop, and hence you will end up ending up all.
2006-10-29 11:57:37 · answer #2 · answered by Anonymous · 0⤊ 2⤋
You would receive $5,368,709.12 on the 30th day and have a total accumulation of $10,737,418.24.
2006-10-29 12:41:03 · answer #3 · answered by funtym888 2 · 0⤊ 0⤋
$10,737,418.24
2006-10-29 11:46:15 · answer #4 · answered by Doug 3 · 0⤊ 0⤋
$10,737,418.23
2006-10-29 11:40:21 · answer #5 · answered by LD 5 · 0⤊ 0⤋
$335,544.32
2006-10-29 11:50:16 · answer #6 · answered by jamrow2 1 · 0⤊ 1⤋