Question

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Nickels: Someone offers to double the amount of money you have every
day for 1 month (30 days). You have 1 nickel. On the first day, you will
have 2 nickels worth $.10. On the second day, you will have 4 nickels
worth $.20. How much money will you have on the 30th day?

Answer 1

Answer: you will have $53,687,091.2 dollars once you reach the thirty-day milestone.

Explanation:

Multiply 0.05 by 2 thirty times to get your answer.

0.05 * 2^30

0.05 * 1,073,741,824 = $53,687,091.2 or 10,737,418.24 nickels.