SOLUTION: Suppose you are offered a job for the month of Sept (it has 30 days) with the following two options: you will be paid $0.01 for the first day, $0.02 for the second day,$0.04 for th

Algebra ->  Logarithm Solvers, Trainers and Word Problems -> SOLUTION: Suppose you are offered a job for the month of Sept (it has 30 days) with the following two options: you will be paid $0.01 for the first day, $0.02 for the second day,$0.04 for th      Log On


   

Question 1138666: Suppose you are offered a job for the month of Sept (it has 30 days) with the following two options: you will be paid $0.01 for the first day, $0.02 for the second day,$0.04 for the 3rd day, and so on. The other option is to be paid $100,000 for the whole months work. Which option would you take and why?
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
Take the first option.
that is 2^(n-1) cents for n days
the money paid on day 30 alone will be 2^29=$5,368,709.12
exponential growth is huge.