2007-09-08 05:25:30 · 7 answers · asked by michael r 1 in Business & Finance ➔ Personal Finance
I don't quite get your question man...
But from what I understand....
1 penny. Double every day.
Let's use logs, yay! 1 * 2 ^(n-1) >= 1mil
(n-1) * log(2) >= 1mil
n-1 = log(1mil) / log(2)
n = log(1mil) / log(2) +1
I got 20.9... so 21 days. Isn't that crazy?
2007-09-08 05:36:55 · answer #1 · answered by drsquearl 2 · 1⤊ 1⤋
Stupid question only exists in the math textbooks. If you can save a million dollars, you have it already. If you can double like sky's the limit, why just double? Why stop at a million?
2007-09-08 16:15:47 · answer #2 · answered by Smartass 4 · 0⤊ 0⤋
You can do it by hand really easy... I do it with clients all the time as an example of how money grows on itself.
Each line below represents one day.
0.01
0.02
0.04
0.08
0.16
0.32
0.64
1.28
2.56
5.12
10.24
20.48
40.96
81.92
163.84
327.68
655.36
1310.72
2621.44
5242.88
10485.76
20971.52
41943.04
83886.08
167772.16
It would be worth over 1 million after the 25th day.
Ken Clark
Certified Financial Planner
2007-09-08 14:16:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Microsoft Excel comes to $1,374,389,534.71 in 37 days.
Put $0.01 in cell A1.
Put =A1 * 2 in cell A2.
Copy the formula from cell A2 in cells A3 to A40.
2007-09-08 13:16:50 · answer #4 · answered by STEVEN F 7 · 2⤊ 0⤋
18 days.
2007-09-08 12:43:46 · answer #5 · answered by johnandeileen2000 7 · 0⤊ 1⤋
This question is best answered by the calculator on your computer.... silly
2007-09-08 12:35:12 · answer #6 · answered by ANGEL Baby 3 · 0⤊ 1⤋
Barely a month...
2007-09-08 12:33:30 · answer #7 · answered by Pilosopong Tasyo 2 · 0⤊ 1⤋