Magic Penny

Would you rather have a million dollars today ... or a magic penny that could double itself every day for thirty days? Its a trick question of course, designed to fool those unfamiliar with the awesome power of compounded growth over time. The financially astute option is to take the Magic Penny. Why? Because a penny doubled thirty times over exceeds five million Dollars. Here is how it arrays out on paper.

Day 1 = $.01  Day 2 = $.02  Day 3 = $.04  Day 4 = $.08  Day 5 = $.16  Day 6 = $.32

Day 7 = $.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 = $1,310.72 Day 19 = $2,621.44  Day 20 = $5,242.88  Day 21 = $10,485.76

Day 22 = $20,971.52 Day 23 = $41, 943.04  Day 24 = $83,886.08 Day 25 = $167,772.16

Day 26 = $335,544.32 Day 27 = $671,088.64  Day 28 = $1,342,177.28  Day 29 = $2,684,354.56

Day 30 = $5,368,709.12 ... amazing is it not?

                                                                             Roger L. Caron