Suppose that you won the top prize from a game show and are given two options. The first option is a cash gift of $10,000 and $1

Question

3 years ago

10

Suppose that you won the top prize from a game show and are given two options. The first option is a cash gift of $10,000 and $1

,000 per day for the next 7 days. The second option is a cash gift of 1 cent (or $0.01) that grows tenfold each day for 7 days. Which option would you choose?

Mathematics

1 answer:

Ivenika [448] · Answer 1 · 2022-06-12T23:11:04+03:00

Ivenika [448]3 years ago

7 0

Answer: The second option.

Step-by-step explanation:

By the end of the 7 days you will have collected $100,000 but if you choose the first option you'd only end up with $17,000.