# A Penny A Day For 31 Days, Doubled

I went on the internet today looking for the answer to this question:
Which would you rather have, \$1000 or a penny a day for 31 days, doubled?
There were millions of results but not one result that I checked was correct. Here is the answer. A penny a day for a 31-day month is 31 cents. Doubled, makes it 62 cents. If you try this out on someone else, and they think the answer is different, then they didn't pay atention to the question!
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Now, if you were to invest a penny into an investment that doubled every day, here is how that works out:
Day 1: \$.01
Day 2: \$.02
Day 3: \$.04
Day 4: \$.08
Day 5: \$.16
Day 6: \$.32
Day 7: \$.64
Day 8: \$1.28
Day 9: \$2.56
Day 10: \$5.12
Day 11: \$10.24
Day 12: \$20.48
Day 13: \$40.96
Day 14: \$81.92
Day 15: \$163.84
Day 16: \$327.68
Day 17: \$655.36
Day 18: \$1,310.72
Day 19: \$2,621.44
Day 20: \$5,242.88
Day 21: \$10,485.76
Day 22: \$20,971.52
Day 23: \$41,943.04
Day 24: \$83,386.08
Day 25: \$167,772.16
Day 26: \$335,544.32
Day 27: \$671,088.64
Day 28: \$1,342,177.28
Day 29: \$2,684,354.56
Day 30: \$5,368,709.12
Day 31: \$10,737,418.24

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