What would you choose?

Which option would you take?

  • $1 Million

    Votes: 8 16.3%

  • one penny that doubles in value each day for the next 30 days

    Votes: 41 83.7%
  • Total voters
    49
BigClay

BigClay

Knower of useless ZJ things
Joined
Sep 24, 2008
Location
Winston-Salem
With out much thought, if someone came up to you and said "If I offered you $1 Million dollars right now OR one penny that doubles in value for the next 30 days, which option would you take?"

Vote above.
 
When did this become math class?
 
It doesn't say how often the penny compounds? The way it's worded, you'll have .2c in a month. I'll take the million and invest it for 30 days instead.
 
do all subsequent pennies double in value as well, or just that original penny. If just that original penny then I'll take the Million vs. the $0.30 at the end of the month.
 
one million and invest in Government Bonds day one...
I'm a risk taker :popcorn:
 
1 $0.01
2 $0.02
3 $0.04
4 $0.08
5 $0.16
6 $0.32
7 $0.64
8 $1.28
9 $2.56
10 $5.12
11 $10.24
12 $20.48
13 $40.96
14 $81.92
15 $163.84
16 $327.68
17 $655.36
18 $1,310.72
19 $2,621.44
20 $5,242.88
21 $10,485.76
22 $20,971.52
23 $41,943.04
24 $83,886.08
25 $167,772.16
26 $335,544.32
27 $671,088.64
28 $1,342,177.28
29 $2,684,354.56
30 $5,368,709.12


Here is the calculation. I just thought it was an interesting question. It makes you think.
 
BRUISER said:
if my math is correct with should be around $16million in a month with the penny thing
Click to expand...

so then ALL pennies double each day? The question specified ONE penny that doubles each day.

Visuals work best for me.
 

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Macdaddy4738 said:
it says it doubles in value every day...
you'll have much more with the penny by the end of the month.
Click to expand...


Where does it say that?

With out much thought, if someone came up to you and said "If I offered you $1 Million dollars right now OR one penny that doubles in value for the next 30 days, which option would you take?"
Click to expand...

Just says double in value for the next 30 days. Could be compounding daily, monthly, continuously?
 
:lol: I guess I don't read into it as much. I should have said the value doubles everyday.
 
I'd take the million, because knowing my luck, dude would never come back after day 1. :flipoff2:
 
BigClay said:
1 $0.01
2 $0.02
3 $0.04
4 $0.08
5 $0.16
6 $0.32
7 $0.64
8 $1.28
9 $2.56
10 $5.12
11 $10.24
12 $20.48
13 $40.96
14 $81.92
15 $163.84
16 $327.68
17 $655.36
18 $1,310.72
19 $2,621.44
20 $5,242.88
21 $10,485.76
22 $20,971.52
23 $41,943.04
24 $83,886.08
25 $167,772.16
26 $335,544.32
27 $671,088.64
28 $1,342,177.28
29 $2,684,354.56
30 $5,368,709.12
Here is the calculation. I just thought it was an interesting question. It makes you think.
Click to expand...


Bingo! Excel is great software.
 
the intrest on a million dollars invested in a savings account is general $30k a year, depedning nt he rates.


keep your loose change.
 
I know the smarter decision would be to take the penny and hang on to it for a month.

Problem is that I have bills that need to be paid right now and a cool mil would cure that problem plus I'm not a greedy person and could live quite well off a million especially after investing the majority of it.

I would also give part of it to my church (it needs some repairs).
 
Am I the only one that see the Syntax issues in this word problem. I was always taught to be certain to read the question properly.



the pole]one penny that doubles in value each day for the next 30 days[/QUOTE] [QUOTE=BigClay said:
one penny that doubles in value for the next 30 days
Click to expand...

These do not ask the same thing, and neither asks the question:

One penny that will double in value along with all subsequent pennies for 30 days.

So which is it?

from the poll = 30 pennies
from the original post = 2 pennies
What everyone is assuming is the $5mil answer.

read it for what it is, not for what you might think it is.:flipoff2:
 
a penny that doubles in value each day.

does that mean everyday you wake up with one penny, and by the end of the day you have two pennies and then the process starts over?
 
BigRedB2 said:
a penny that doubles in value each day.
does that mean everyday you wake up with one penny, and by the end of the day you have two pennies and then the process starts over?
Click to expand...

yeah, it's like the tooth fairy, it comes at night and puts it under your pillow. By day 30 your entire house is taken over by pennies! hahaha :flipoff2:
 
BigRedB2 said:
leave the million in the bank and thats 30K a year indefinatly.
or take the penny and get $150k at the end of thirty days.
Click to expand...

Huh? Who said you had to give up after the thirty days? just start 11 months of interest of day 31, you'll stil be waaaaay ahead.
 
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