The job that would give you more is the one where you double the penny everyday. Although it seems small at first but slowly slowly you start making a lot more money.
To calculate how much you would make in 30 days by doubling the penny, you just double the amount every day until you get to 30:
$.01 - First day
$.02
$.04
$.08
$.16 - Fifth day
$.32
$.64
$1.28
$2.56 - Ninth day
....
$5,368,709.12 - 30th day
If you add it all up, the sum you would get is $10,737,418.23.
That is 11 times more than the first option! :)
Table:
Days Money
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 $83,886.08
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
And as mentioned above, the total sum is $10,737,418.23
Number of periods would be is 30 days. Or 1 month.
And this is a good example of compund interest.
