.png){kind=icon}
$1 Million Vs 1 Penny
Now that you've read the fable, you can see the choice is pretty clear:
it's better to have a single penny that doubles everyday for a month,
versus $1 million up front.
This is because of the power of compound interest. If you took a single penny and doubled it everyday, by day 30, you would have $5,368,709.12
Now that you've read the fable, you can see the choice is pretty clear:
it's better to have a single penny that doubles everyday for a month,
versus $1 million up front.
This is because of the power of compound interest. If you took a single penny and doubled it everyday, by day 30, you would have $5,368,709.12
Attachments
Last edited:
