Which is better for allownce $1 a week or one penny and that penny doubled each day?

Question

So, by the end of the year what is the total for $1 a week and what is the total of a penny total doubled daily for one year? That is one penny today. 2 pennies the next, 4 pennies the next, 8 pennies the next, and so on

Answer 1

$1 a week is $52

1 penny doubled daily is
2^365 = How much $

In other words, 21 million in one month...

I think it's a safe bet for the penny.

Answer 2

Total for $1/wk = $52 at end of year

Total for penny doubled daily (365 day year) = 7.1 x 10^107 or over 7 million googols.

the better deal is the penny doubled unless you have a high degree of certainty that you will die (or otherwise end your cash flow) within the next 9 days. (If you go 10 days, you are definitely better off with the doubling penny).

Answer 3

$1 a week would give you $52 at the end of the year. At the end of the first month doubling a penny youd be in the $5 million ballpark. To even concieve what that would come end to in a year is just tiring. I suspect you'd make Bill Gates look poor.

Answer 4

How many weeks in a year? 52
How many days in a typical year? 365
1+2+4+8+16+32+64+128+...

After eight days, you are making more each day than each week for the other example. A better question would have been, "Which is better? $1 a week for a year or a penny the first week and doubled each week for a year.".

Answer 5

Go for the penny doubled.

Answer 6

1 penny doubled each day. That is over 5 million!

Answer 7

The pennies.

Answer 8

1$ a week if i am the parent who will give allowance so that i can save

Answer 9

Obviously you don't know how to play chess.

Answer 10

dollar a day! I like your picture!!