Start with a penny

This was a $100,000 question from ABC’s Super Millionaire tonight:

If you start with a penny and you double it every day, how long will it take before you have one million dollars?

A. 27 days
B. 74 days
C. 157 days
D. 293 days

Answer below the fold…

The answer is A. 27 days

Here is the math:

Day 0 – $0.01
Day 27 – $1,342,177.28

3 thoughts on “Start with a penny

  1. Would I not have a million dollars on the 26th day, assuming I’m not losing money while it aggregates? The money on days 25 and 26 totals $1,006,632.96, which is more than a million dollars.

    The 27th day would be the correct answer if the question were, “If you start with a penny and you double it every day, on which day would you get at least one million dollars?”

    I could be wrong. I was never as good at math as I am at grammar. And I’ve never been able to save a penny.

  2. Dear Sir or Maam:
    This is a good concept of doubling you penny to get a million dollars, but where are you getting the money to double it? How do you get that? Where does it come from. I once read a story that said that you have to buy and sell things in order to get to that million dollar point. Do you have any information about that. Where do you get ideas on what to buy and sell? Thank you so much. Where the story came from said feel free to write and ask for ideas, but there is no address, email, phone number or nothing. I would appreciate you help. I would really like to try this. Lynnette

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