Choose your quid?
2006-11-27 13:20:56 · 47 answers · asked by Anonymous in Business & Finance ➔ Investing
a penny, 5 million dollars can turn man into beast if given all at once and encourage man to spend foolishly. as long as you have that one penny, you will always be able to increase your wealth and learn the value of a penny and how far you have come and can still go.
2006-11-27 13:25:10 · answer #1 · answered by sun 2 · 0⤊ 1⤋
Hi,
Time to overanalyze this.
First, if we have a penny which doubles every second does that mean its offspring also inherit the magical ability to double? If so then value of the penny would be:
Two Cents raised to Power of N where N = number of seconds.
The pennies be worth more money in just 29 second; however, storing this amount of pennies would be near impossible. Also, if the copied pennies did have the ability to duplicate, then could you actually trade them in? Assuming you traded just one penny into the bank, they would now also have an unlimited supply of pennies there would be no need to purchase more than a single penny which only goes back to evaluate if having 500 million magical duplicating pennies is worth $5m (which I believe it is not)
The other possible scenario is that the original penny duplicates, but its offspring do not. In this case, the penny rate would be:
One Cent + ( One Cent x N ) where N = number of secconds
Under this approach, the penny would produce a mere $0.60 per minute or $36 per hour. At this rate, it would take more than 158 years to generate $5million. Once again, I believe the cash would be the bettere decision.
Just my two cents (Sure hope they don't start doubling )
2006-11-27 20:35:50 · answer #2 · answered by Leo R 2 · 0⤊ 0⤋
Well, having a penny that doubles every second means that your only earning a penny a second. It would take 3473 days for the penny to double to the value of $5,000,000. Thats 9 1/2 years.
If you were to take the 5 million up front and invest it at say 5% a year, You would be making 250,000 in interest alone a year.
You take that interest and add it to the initial 5 million and throw on another 5% interest at for the next year and you've got even more in interest.
By the time the 9 1/2 years comes by, at 5% interest you've got an additional $2,750,000 + in interest.
The $5,000,000 is worth at least $2,750,000 more than the doubing penny.
Not every penny is a doubling penny... only the origianl. unlike many math questions...
2006-11-27 13:41:54 · answer #3 · answered by ×?ΪЯР2 · 1⤊ 0⤋
I will take 5 million dollars.
A penny every seconds means 840 bucks a day. The problem is turning them into dollar. Some banks are charging $ if you deposit pennies. That is a great hassle to deposit the money with so much pennies.
I talke 5 million dollars and put it in bank. and be done with it.
I guess i am lazy.
2006-11-27 13:25:48 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Penny, although it could be a trick question. There doesn't seem to be an end point so there isn't one. It wouldn't take long at all for the surface of the earth to get overwhelmed by copper. Most answers on this grossly underestimate how fast the doubling results in insane numbers. It would rapidly become a global issue and could potentially be the end of the world as we know it. I know this sounds like a silly answer but its true. Actually, I'll take the 5 mil.
2006-11-27 14:27:34 · answer #5 · answered by Anonymous · 0⤊ 0⤋
a penny doubled every day for thirty days is over one million dollars (do the math). I'll take one penny doubled for every second that I can hold my breath.
Then I'd tell my boss' boss what I really think about the new computer system they put in place without really testing it out before. Then I'd quit and move to either Oregon, Colorado, or Ireland.
2006-11-27 13:30:41 · answer #6 · answered by jdnmsedsacrasac1 4 · 0⤊ 0⤋
Depends, how long is the penny going to double every second? A day, an hour, what? I'd take the penny though.
2006-11-27 13:22:07 · answer #7 · answered by odandme 6 · 2⤊ 0⤋
I'd take the 5 million . . yeah, a penny that doubles sounds good, but how long would you have to wait for it to even halfway amount to 5 million?? . . but then like someone else said, it depends on how often the penny doubles AND how long! . . .
2006-11-27 13:24:30 · answer #8 · answered by ♥LoisLane♥ 4 · 0⤊ 0⤋
a penny that doubles every secound it would be millions in no time at all to work for a penny a day and double it every day will be over a million a day within 30 days
2006-11-27 13:25:53 · answer #9 · answered by Anonymous · 1⤊ 0⤋
the penny...
you'd have 5 million in a couple of months with JUST the ONE penny doubling... that's not counting the "interest" it was making per second...
2006-11-27 13:44:43 · answer #10 · answered by ilovetiti 3 · 1⤊ 0⤋