Mike received a penny on December 1st. On December 2nd he received 2 cents. December 3rd another 4 cents and December 4th he received 8 cents. If his money continues to double, how much will he earn on December 25th?
We have 24 doubling times starting December 2 to December 25
0.01 * 2^24
0.01 * 16,777,216
167,772.16
We have 24 doubling times starting December 2 to December 25
0.01 * 2^24
0.01 * 16,777,216
167,772.16