Take the Grover Cleveland bill, or a Penny Doubled 25 times?

If you were offered one Grover Cleveland bill ($1,000) or the value of an Abraham Lincoln coin (penny) which was doubled 20 times, which one would you choose?






Let's do the math!

Option 1 = $1,000
Option 2 =
$0.01 x 2 = $0.02
$0.02 x 2 = $0.04
$0.04 x 2 = $0.08
$0.08 x 2 = $0.16
$0.16 x 2 = $0.32
$0.32 x 2 = $0.64
$0.64 x 2 = $1.28
$1.28 x 2 = $2.56
$2.56 x 2 = $5.12
$5.12 x 2 = $10.24
After doubling the penny 10 times, it sure does look like Option 1 was the way to go, doesn't it?  Not so quick!  Let's keep going...
$10.24 x 2 = $20.48
$20.48 x 2 = $40.96
$40.96 x 2 = $81.92
$81.92 x 2 = $163.84
$163.84 x 2 = $327.68
$327.68 x 2 = $655.36
$655.36 x 2 = $1,310.72
$1,310.72 x 2 = $2,621.44
$2,621.44 x 2 = $5,242.88
$5,242.88 x 2 = $10,485.76
Sure does prove the value of compounded money!  If you are ever offered these 2 choices, you would be wise to choose Option 2.  After the penny is doubled 17 times, it is worth more than the $1,000 bill by more than $300! 
Just for fun, let's keep going and see if we can break $1M!
$10,485.76 x 2 = $20,971.52
$20,971.52 x 2 = $41,943.04
$41,943.04 x 2 = $83,886.08
$83,886.08 x 2 = $167,772.16
$167,772.16 x 2 = $335,544.32
$335,544.32 x 2 = $671,088.64
$671,088.64 x 2 = $1,342,177.28
$1,342,177.28 x 2 = $2,684,354.56
$2,684,354.56 x 2 = $5,368,709.12
$5,368,709.12 x 2 = $10,737,418.20
That's correct!  A penny doubled 30 times, which is every day for one month, will be worth over $10.7M! 

I learned this tip many years ago in elementary school.  As a young student, we all picked the large bill, and who wouldn't do the same?  Most adults would have chosen the large bill, but it definitely does not outperform the penny which is doubled at least 17 times! 

Enjoy this valuable information, and share it with your family and friends!  They'll be impressed!