$1Million or a penny doubled every day?

If I gave you the option, of either taking $1 Million, or a penny double every day for a month, which one would you choose? Most people would automatically choose the million dollars, because a penny doubled every day seems like nothing.. But in fact at the end of the 30 days, you would have $5,368,709.12! 1 more day and you'd have more than $10 million bucks!
Here's how it goes.

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
Go ahead and check the math if you'd like, but it is correct. I just thought this was amazing when I heard about it. If you have any other little things like this, please post 'em.

 

I would have picked a penny doubled every day without you needing to explain

People just want all the money in their hands.

Good things come to those that wait.

 

Agreed. The world is such a greedy place nowadays. It's pretty sad when you look around and see all of these people fighting over the stupidest things.

 

I personally would have picked the 1 million until about last year, when in Algebra i learned this equation about the penny doubled. I forgot the exact equation but its amazing how big the number gets starting from only $0.01

 

2 years ago, I would have choosen the $1 million as it seemed as the most sensible choice.

 

If someone didn't think it out a penny doubled a day would sound stupid. Just a month would seem too short a time to get anything out of it, even I had to think about it first when I read the first part of your post.

That is just omg....

 

Well, it depends on how many days it was doubled. If it doubled every day in your lifetime you would have more money than you could possibly imagine.

 

After just 37 days you would have more than 1.3 billion dollars, so yes in your lifetime you would have more money than there is in the world. ;p

 

I'd be quite happy with either

 

Yeah, I wouldn't mind a million dollars, much less 5 million

 

I heard that while go, I don't remember where though.

 

Penny Double.

 

I read this Chinese picture book when I was in 2nd grade about this. I just hope all that cash doesn't come in pennies :S

 

When you wrote penny doubled I goggled it before I looked at your equation yeah I'll rather have that

 

I'd rather take the $1,000,000 up front because I could easily turn that into 6 million by the end of the month, not to mention, that 5 million dollars worth of pennies would just be incredibly difficult to move and I'm sure no bank would accept that many pennies

 

Pennies doubled every day, I learnt about this in 3rd grade lol. Expect we did 5 million or the pennies doubled.

 

double penny !! i thought it'd take like a year to get the 1m from doing double penny

 

thats kinda cool i've never heard of this before

 

Heard about this like 8th grade ^.^ I choose Penny :O

 

Coin star nigga ;D

I heard of this before in my Financial Algebra class a few years back