Question

Please help me with this two step math problem! THANK YOU !!!!!!!!

Answer 1

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
$2.56 - Ninth day
....
$5,368,709.12 - 30th day

If you add it all up, the sum you would get is $10,737,418.23.

That is 11 times more than the first option! :)

Table:
Days      Money
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

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.