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.
800 + 16x = 720 + 21x. Cancel out the 720 to get 80 + 16x = 21x. Subtract 16x from both sides to get 80 = 5x. Divide by 5 to get 16 = x, or x = 16. 16 hours. The charge is 800 + 16(16), = 720 + 21(16) which = 800 + 256 = 720 + 336 which = 1,056 = 1,056. Hope this helped!
