The job that would give you more is the one where you double the penny everyday. Although it seems small at first but slowly slowly you start making a lot more money.
To calculate how much you would make in 30 days by doubling the penny, you just double the amount every day until you get to 30: $.01 - First day $.02 $.04 $.08 $.16 - Fifth day $.32 $.64 $1.28 <span>$2.56 - Ninth day </span>.... <span>$5,368,709.12 - 30th day </span> If you add it all up, the sum you would get is <span>$10,737,418.23.
That is 11 times more than the first option! :)
Table: Days Money </span>Day 1<span> $.01</span> Day 2<span> $.02</span> Day 3<span> $.04</span> Day 4<span> $.08</span> Day 5<span> $.16</span> Day 6<span> $.32</span> Day 7<span> $.64</span> Day 8 <span> $1.28</span> Day 9 <span> $2.56</span> Day 10 $5.12 Day 11<span> $10.24</span> Day 12<span> $20.48</span> Day 13<span> $40.96</span> Day 14<span> $81.92</span> Day 15<span> $163.84</span> Day 16<span> $327.68</span> Day 17<span> $655.36</span> Day 18<span> $1,310.72</span> Day 19<span> $2,621.44</span> Day 20<span> $5,242.88</span> Day 21<span> $10,485.76</span> Day 22<span> $20,971.52</span> Day 23<span> $41,943.04</span> Day 24<span> $83,886.08</span> Day 25<span> $167,772.16</span> Day 26<span> $335,544.32</span> Day 27<span> $671,088.64</span> Day 28<span> $1,342,177.28</span> Day 29<span> $2,684,354.56</span> Day 30<span> $5,368,709.12 </span> And as mentioned above, the total sum is $10,737,418.23
Number of periods would be is 30 days. Or 1 month. And this is a good example of compund interest.
Explanation: the number line shows any number less than 16, the filled in circle also means including 16. So it becomes any number 16 or less. So in both of the scenarios the max number of either students or dollars has to be 16.
