What happens if you double a penny over 30 days?

Looking at the doubling a penny for 30 days analogy, every time you double a, the double pennies also get doubled. Just like a snowball, starts off slow and small, but grows exponentially. On day one you will have $0.01, on day two you will have $0.02, and on day $0.04 on day for. On and on we go. What happens to this penny over 30 days?

Does a penny double every day?

By doing so, that humble penny would have doubled every day for 30 days, illustrating the power of exponential growth. As you can see, that one penny doubles every day and grows exponentially over time. Now let’s explore different timeframes: 30 days , 31 days , a month , 365 days, and a year …

How much money can you earn if you double A Penny?

However, in this scenario, you must decide if getting $1 million immediately lets you receive more cash than starting with a single penny and watching it double every day for a month. If you were to double a penny for 30 days, it would turn into $5,368,709.12! See the detailed breakdown of each day in the chart below: