Imagine that you received 2 pennies each day for the month of September. At the end of the month, you would have received 0.02 30 = 0.60, or 60 cents. This is an example of linear growth, something that you have previously studied. But there are different ways that money can grow. For example, each day for a month, you could double your money from the previous day
Which would you choose? Doubling your pennies from the previous day for a month or a million dollars? Pennies Million Dollars
http://media.apexlearning.com/Images/201105/24/21f70f04-fe52-43a1-aa67-98ee5550e62f.gif
pic^
O_O XD
huh lol ?
nothing hehe ^_^ :D
Okay, to find the answer, you need to know how much money you would have by the end of the month if your money was doubled.
You will need the formula \(\Large 0.01(2)^{30}\) Solve that, and see if it is larger than 1 million
so it would be pennies
Join our real-time social learning platform and learn together with your friends!