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Something to think about.

March 10th, 2006 at 02:51 pm

If I told you that you won the Mega Power Great States lottery and your prize would either be $1 million or I could give you a penny on the first of the month, 2 pennies on the second, 4 on the third and double it every day for the rest of the month, which would you take?
Date DailyDollars Total Dollars
1 0.01 0.01
2 0.02 0.03
3 0.04 0.07
4 0.08 0.15
5 0.16 0.31
6 0.32 0.63
7 0.64 1.27
8 1.28 2.55
9 2.56 5.11
10 5.12 10.23
11 10.24 20.47
12 20.48 40.95
13 40.96 81.91
14 81.92 163.83
15 163.84 327.67
16 327.68 655.35
17 655.36 1310.71
18 1310.72 2621.43
19 2621.44 5242.87
20 5242.88 10485.75
21 10485.76 20971.51
22 20971.52 41943.03
23 41943.04 83886.07
24 83886.08 167772.15
25 167772.16 335544.31
26 335544.32 671088.63
27 671088.64 1342177.27
28 1342177.28 2684354.55

That is more than $2.68 million in February and that would double 2 times in the months with 30 days to over $10.72 million and again to over $21.44 million in months with 31 days. Those pennies add up fast when increasing exponentially!!

1 Responses to “Something to think about.”

  1. outofdebt Says:
    1142008574

    Pretty cool money stuff! Thanks!

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