Lousy Pay

Question?

Would you work for 1c per day?

What if you were paid 1c for your first day and your pay doubled every day, would you work for 30 days??

Well, if you did, this is what you'd expect per day;

1 $0.01
2 $0.02
3 $0.04
4 $0.08
5 $0.16
6 $0.32
7 $0.64
8 $1.28
9 $2.56
10 $5.12
11 $10.24
12 $20.48
13 $40.96
14 $81.92
15 $163.84
16 $327.68
17 $655.36
18 $1,310.72
19 $2,621.44
20 $5,242.88
21 $10,485.76
22 $20,971.52
23 $41,943.04
24 $83,886.08
25 $167,772.16
26 $335,544.32
27 $671,088.64
28 $1,342,177.28
29 $2,684,354.56
30 $5,368,709.12

Wasn't it Einstein who said that the most powerful force in the universe is compound interest?

Comments

[Nate]

if you invested $1 on Jan 1, 0001 in an interst-bearing account at the rate of 5%, today you would have enough wealth to purchase a ball of gold larger than the planet earth.

[Mick]

Were there any banks back then offering 5%?

Don't forget fees. You'd probably end up owing the earth in gold.