Magic Penny! Everyone has just received a magic penny. What makes this penny so magical is that it doubles in worth every day for an entire month (meaning on the first day it is worth $.02, on the second day it is worth $.04, and so on….) Ms. Messina is willing to buy anyone’s magical penny for one million dollars! Would you sell yours to her?

Will you sell your penny Raise your hand if you want to sell your penny for one million dollars! Ms. Messina will take a poll to see who would sell her their penny. VS.

Are you sure you made the right Choice? Ms. Messina is giving everyone ONE last chance to change their mind about trading their penny. Work as a pair on the “Million vs. Magic” situation and develop a mathematical argument that will prove which choice is the better one.

Million vs. Magic Each of you has just been given a magic penny. What makes the penny so magical is that every day for an entire month (30days), the worth of the penny will double. This means on the first day the penny will be worth $.02, on the second day, the penny will be worth $.04 and so on… Ms. Messina did not get a magic penny, and is willing to buy yours for one million dollars. Would you sell your penny to her? Why or why not? How much money will the penny be worth for each of the first 10 days? How much money will the penny be worth after a month (the 30th day)? How much will it be worth after x number of days? Support your findings with an argument.

Discussion

Extension How would our equation and graph change if…. We started with a magic nickel instead of a magic penny? Equation: Graph: If you were given 500 regular dollars along with the magic penny? If it cost you 500 dollars to buy the magic penny? If the penny’s worth tripled after each day? If the penny’s worth was halved every day?

3-2-1 Exit Slip 3: Three things you learned from the lesson 2: Two things you have questions on 1: One thing that surprised you