Penny Power Active Learning Tool Changes on Slides 4, 6.

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Presentation transcript:

Penny Power Active Learning Tool Changes on Slides 4, 6

Congratulations! You have two job offers! Each job has a different pay option You will work five days a week, for four full weeks Make the best financial choice based on the following situations

Which option will you choose? The Possibilities Option 1: For the first twenty days of work, you will be paid $200 a day Option 2: The pay will be 1 penny for the first day. Each day the pay will double. So, it will be 2 pennies the second day, 4 the third, and so on Which option will you choose?

How much would you be paid if you chose option 1? Option 1 - $200 per day How much would you be paid if you chose option 1? 20 days $200 $4,000

Option 2 - A Penny Doubled Daily How much would you be paid if you chose option 2? Day 1 $ 0.01 Day 2 $0.02 Day 3 $0.04 Day 4 $0.08 Day 5 $0.16 Day 6 $0.32 Day 7 $0.64 Day 8 $1.28 Day 9 $2.56 Day 10 $5.12 Day 11 $10.24 Day 12 $20.48 Day 13 $40.96 Day 14 $81.92 Day 15 $163.84 Day 16 $327.68 Day 17 $655.36 Day 18 $1310.72 Day 19 $2621.44 Day 20 $5242.88

Which would you prefer? Powerful Penny! Option 1: $4,000.00 OR

Which option would you choose? If you won the lottery… Which option would you choose? Option 1: $1,000,000 today Option 2: A penny doubled every day for thirty days

If you choose the penny, you would have earned $5,368,709.12! A Million or a Penny? Day 21 $10,485.76 Day 26 $335,544.32 Day 22 $20,971.52 Day 27 $671,088.64 Day 23 $41,943.04 Day 28 $1,342,177.28 Day 24 $83,886.08 Day 29 $2,684,354.56 Day 25 $167,772.16 Day 30 $5,368,709.12 If you choose the penny, you would have earned $5,368,709.12!