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Published byEugene Stuart Hodges Modified over 9 years ago
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On my 12 th birthday my grandmother gave me a choice. She handed me one silver dollar and one dime. Then, she told me that if I picked the silver dollar she would send me one more silver dollar than the year before. So for my 13 th birthday I would get 2 silver dollars. Next, she said that if I chose the dime she would send me twice as much money as the year before. So for my 13 th birthday I would get twenty cents. Which choice would have earned me the most money on my 17 th birthday?
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1314151617 Silver Dollar $2.00$3.00$4.00$5.00$6.00 Dime$0.20$0.40$0.80$1.60$3.20
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1819202122 Silver Dollar Dime
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You're sitting in math class, minding your own business, when in walks a success story from your school. He's made it big, and now he has a job offer for you. You'll have your choice of two payment options: 1.One cent on the first day, two cents on the second day, and double your salary every day thereafter for the thirty days; or 2.Exactly $1,000,000. (That's one million dollars!)
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30 days is a long time and would make a VERY large table. Break the table into 1 st week, 2 nd week, 3 rd week, 4 th week, and the 29 th and 30 th day on the last table to find the pennies. That means you will have 5 tables altogether.
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Pay with First Option - Week 1 Day No.Pay for that DayTotal Pay (In Dollars) 1 2 3 4 5 6 7
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Pay with First Option - Week 2 Day No.Pay for that DayTotal Pay (In Dollars) 8 9 10 11 12 13 14
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Pay with First Option - Week 3 Day No.Pay for that DayTotal Pay (In Dollars) 15 16 17 18 19 20 21
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We're getting into some serious money here now, over $20,000, but still nowhere even close to a million. And there's only 10 days left. So it looks like the million dollars is the best deal. Of course, we suspected that all along.
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Pay with First Option - Week 4 Day No.Pay for that DayTotal Pay (In Dollars) 22 23 24 25 26 27 28
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Hold it! Look what has happened. What's going on here? We went from $21 000 to over a million in 6 days. This can't be right. Let me check the calculations. No, I can't find any mistakes. This is amazing. Look how fast this pay is growing. Let's keep going. I can't wait to see what the total will be.
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Pay with First Option Day No.Pay for that DayTotal Pay (In Dollars) 29 30
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In 30 days, it increases from 1 penny to over 10 million dollars. That is absolutely amazing.
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