djrockinsteve
Senior Member
- Joined
- Jan 2, 2010
- Messages
- 4,911
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Read the following then at the end make your choice. You must not think about it. Take your best guess pick then read on.
I need to hire you for 31 days straight. No time off. At the end of the 31 days your work is finished and you will be paid.
I will give you the choice of how you wish to be paid.
a) A penny for the first day and I will double that each day thereafter.
b) One thousand dollars for each day.
Make your decision.
Now the best answer.
Obviously b) would get you $31,000.00 (1 thousand per day)
a) would start out at .01, day two .02 and day 3 .04 etc.
On the tenth day you would have a big $5.12 and on day fifteen it would be $163.84
Further into the month on day twenty $5,242.88 twenty fifth day $167,772.16
Twenty sixth $335,544.32
Twenty seventh $671,088.64
Twenty eighth $1,342,177.38 Getting up there
Twenty ninth $2,684.354.66
Thirth $5,368,709.12
and on the last day you would receive $10,737,418.24
The magic of compounding. Hope you made the right choice. Taxes excluded
I need to hire you for 31 days straight. No time off. At the end of the 31 days your work is finished and you will be paid.
I will give you the choice of how you wish to be paid.
a) A penny for the first day and I will double that each day thereafter.
b) One thousand dollars for each day.
Make your decision.
Now the best answer.
Obviously b) would get you $31,000.00 (1 thousand per day)
a) would start out at .01, day two .02 and day 3 .04 etc.
On the tenth day you would have a big $5.12 and on day fifteen it would be $163.84
Further into the month on day twenty $5,242.88 twenty fifth day $167,772.16
Twenty sixth $335,544.32
Twenty seventh $671,088.64
Twenty eighth $1,342,177.38 Getting up there
Twenty ninth $2,684.354.66
Thirth $5,368,709.12
and on the last day you would receive $10,737,418.24
The magic of compounding. Hope you made the right choice. Taxes excluded
