If you were hired to do a job, which would only last for 30-days, and the person hiring you for that job said:
"...If you work for 30-days straight and finish this job on time, I'll pay you either a flat-one-time fee of $4 MILLION DOLLARS...OR...I'll pay you $0.01 on day one..and keep doubling that until the end of 30 days..day one $0.01, day two $0.02, day three $0.04, etc, etc....".....which option would you choose?
2007-04-17 20:26:53 · 5 answers · asked by raymejr 2 in Business & Finance ➔ Personal Finance
Take the 'penny on day one..doubled the next day'...after 30 days..you'll actually have over FIVE MILLION DOLLARS....Not sure how someone above got more then that when you consider the following daily payout:
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 = $40.96
Day 14 = $81.92
Day 15 = $163.84
Day 16 = $327.68
Day 17 = $655.36
Day 18 = $1,310.72
Day 19 = $2,621.44
Day 20 = $5,242.88
Day 21 = $10,485.76
Day 22 = $20,971.52
Day 23 = $41,943.04
Day 24 = $83,886.08
Day 25 = $167,772.16
Day 26 = $335,544.32
Day 27 = $671,088.64
Day 28 = $1,342,177.28
Day 29 = $2,684,354.56
Day 30 = $5,368,709.12
That's: Five Million, Three-Hundred and Sixty-Eight Thousand, Seven-hundred and Nine Dollars...and twelve cents...
2007-04-17 21:50:58 · answer #1 · answered by Ray Dog 1 · 0⤊ 1⤋
After doing the calculation, I would definitely want you to pay me $0.01 on day one.. and keep doubling that until the end of 30 days because I rather have $10,737,416 than $4 million. It is a no brainer. Do the math.
Besides I could use the money, because I want to retire NOW!!!
2007-04-18 04:02:44 · answer #2 · answered by SweetBrunette 5 · 0⤊ 0⤋
I'll take the penny a day, doubled. The grand total is $21,474,836.47.
Maybe I'll hire the other 3 above me to actually do the work and pocket a cool $9,474,836.47 for twiddling my thumbs for a month. It's GREAT being the boss!
2007-04-18 03:40:03 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 1⤋
the 4 million
2007-04-18 03:30:21 · answer #4 · answered by uuummk 5 · 0⤊ 2⤋
I'd probably take the four million, just to answer with-out
any calculations, to see if the other way paid more. I doubt it would.
2007-04-18 03:31:52 · answer #5 · answered by Uncle rvk 2 · 0⤊ 2⤋