If you doubled a penny every day for 64 days, the total amount of money would be $18,446,744,073.71. This is calculated by multiplying 0.01 (the initial penny) by 2 raised to the power of 64 (the number of days). This is an example of exponential growth, where the amount doubles each day, resulting in a massive sum by the end of the period.
Take the penny a day doubled every day. The sum would be almost 43,000,000.
£10737418.24 by day 31
On the eleventh day you would have 1,024 pennies, but if you save up all your pennies, you will have 1,023 pennies after being paid on the tenth day
Oh, dude, let me break out my calculator for this mind-blowing math problem. So, if you start with one penny and double it every day for 365 days, you'd end up with... drum roll, please... $1.84 quadrillion! Like, who needs a lottery when you've got compound interest, am I right?
The amount is equal about .005e693x. More exactly (at least for the next 30 days), y = .005e69314718058x, where x = amount of days and y = amount you would receive on that day. Also, if you start with 2 pennies then the coefficient would change to .01.
Take the penny a day doubled every day. The sum would be almost 43,000,000.
If you would have gotten 10% interest, your money would have doubled every 7 years.
£10737418.24 by day 31
On the eleventh day you would have 1,024 pennies, but if you save up all your pennies, you will have 1,023 pennies after being paid on the tenth day
Who would be this dumb to ask this?
One saying is "a penny saved is a penny earned".
Oh, dude, let me break out my calculator for this mind-blowing math problem. So, if you start with one penny and double it every day for 365 days, you'd end up with... drum roll, please... $1.84 quadrillion! Like, who needs a lottery when you've got compound interest, am I right?
Oh, what a happy little question! If you were to double one penny every day for 100 days, you would end up with over $6.7 million! Isn't that just amazing? Just imagine all the beautiful things you could create with that much money.
The amount is equal about .005e693x. More exactly (at least for the next 30 days), y = .005e69314718058x, where x = amount of days and y = amount you would receive on that day. Also, if you start with 2 pennies then the coefficient would change to .01.
If I wanted to double my money here is what I would do. I would look for a property that was for sale at a bargan price. You don't want to pay too much and take a loss. Then rent out the property. If you could rent it for 10 percent of the cost, then in ten years you would have doubled your investment. You would not have double the money until you sold the land. Then you would might have another gain or loss. Lets hope after 10 years it would be a gain. If the rent after taxes gave you over 10 percent then it would take you even less than 10 years to double your money. There are many other ways. I just said how I would do it.
2,147,483,648 pennies
The Value of the Mean will Double as well.