Question

Given the choice between receiving $1.000.000 in one month or a single penny-doubled everyday for the period of one month; which option would you choice? Show your work to support your answer. (Assume that 1 month=30 days)

Answer 1

I'm just gonna tell you the answer and you'll have to show the work on your own. A penny doubled everyday for a month equals a little over $5 million dollars. So you would want to go with the second option.

Explanation: