During a month if a person began with two cents and doubled the money saved each day, how much money would the person have at the end of thirty one days?
2007-01-25 05:43:16 · 7 answers · asked by Aoiffe337 3 in Education & Reference ➔ Trivia
$21,474,836.48
2007-01-25 05:48:58 · answer #1 · answered by theeconomicsguy 5 · 0⤊ 0⤋
How many days are in the month?
Feb (non-Leap Year) = 2^28 / 100
Feb (Leap Year) = 2^29 / 100
Apr, Jun, Sep, Nov = 2^30 / 100
Jan, Mar, May, Jul, Aug, Oct, Dec = 2^31 / 100
Now, where everyone so far is making the mistake, the values are above are how much needs to be saved on the last day. The total saved over the month is actually twice that amount minus two cents. So, the numbers change to:
Feb (non-Leap Year) = 2^29 / 100 - .02 = $5, 368, 709. 10
Feb (Leap Year) = 2^30 / 100 - .02 = $10, 737, 418. 22
Apr, Jun, Sep, Nov = 2^31 / 100 - .02 = $21, 474, 836. 46
Jan, Mar, May, Jul, Aug, Oct, Dec = 2^32 / 100 - .02 = $42, 949, 672. 94
Now, imagine all the interest...
2007-01-25 06:32:39 · answer #2 · answered by Dan 3 · 1⤊ 0⤋
Yes
2016-05-23 22:46:51 · answer #3 · answered by Deborah 4 · 0⤊ 0⤋
$42949672.96
You have to start with $0.02 and multiply by 2, the by 2, then by 2 and continue until you have done it 31 times! ^. .^
2007-01-25 06:23:29 · answer #4 · answered by macaan87 2 · 1⤊ 0⤋
2^31=2147483648
$21474836.48
2007-01-25 05:48:52 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Makes no cents. My guess is about $42.00
2007-01-25 05:52:26 · answer #6 · answered by ••Mott•• 6 · 0⤊ 3⤋
Millions..........
2007-01-25 05:48:14 · answer #7 · answered by troble # one? 7 · 0⤊ 0⤋