One Penny Doubled Everyday For 30 Days
Olivia Luz
One penny doubled every day for 30 days what is the total.
So push your luck. This perfectly demonstrates the power of compounding returns that you will get overtime. This means they pay you 1 penn on day 1 2 pennies on day 2 4 pennies on day 3 8 pennies on day 4 and so on. Others believe that the answer is 5 368 709 12 using the logic that the.
Now im aware that this is a pretty popular question but there is a disputed answer. A penny a day doubled everyday for 30 days. What is the amount of money you will end up with after 30 days. Since they are paying you at the end of each day you keep the money from each day.
However there is another scenario that says someone will pay you 1 penny on day 1 and double the amount they pay you on each additional day there after for 30 day. While those numbers might seem like chump change at first take a look further down the line if you keep accruing 50 interest on your whole investment each day. But at the end of day thirty you end up with 5 368 709 12. If you took a penny on the first day of the month and doubled it every day for that month all 30 days how much would you end up at the end of the month.
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Some people believe the answer is 10 737 418 24 using the equation of 0 01x2 30 and that the penny already began doubling on the first day. You can calculate a penny doubled everyday for 30 days in a simple manner. Penny doubled everyday for 30 days. If you double a penny every day for thirty days you ll have 0 01 on day one 0 02 on day two 0 04 on day four and so on.
One cent two cents four cents eight cents. This is what happens. The humble penny has its uses and could help you a lot if it wanted to.
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