Which Would You Choose?

[djrockinsteve]

Read the following then at the end make your choice. You must not think about it. Take your best guess pick then read on.

I need to hire you for 31 days straight. No time off. At the end of the 31 days your work is finished and you will be paid.

I will give you the choice of how you wish to be paid.

a) A penny for the first day and I will double that each day thereafter.

b) One thousand dollars for each day.

Make your decision.


Now the best answer.
Obviously b) would get you $31,000.00 (1 thousand per day)
a) would start out at .01, day two .02 and day 3 .04 etc.
On the tenth day you would have a big $5.12 and on day fifteen it would be $163.84

Further into the month on day twenty $5,242.88 twenty fifth day $167,772.16

Twenty sixth $335,544.32
Twenty seventh $671,088.64
Twenty eighth $1,342,177.38 Getting up there
Twenty ninth $2,684.354.66
Thirth $5,368,709.12

and on the last day you would receive $10,737,418.24
The magic of compounding. Hope you made the right choice. Taxes excluded

 

[winemaker_3352]

I heard that along time ago about the penny a day - hard to believe it would end up being that much!!

 

[Tom]

Where do I sign up !

 

[Larryh86GT]

Under the FLSA and the Pennsylvania Minimum Wage Act, employers must pay overtime to qualified non-exempt employees. Overtime hours are hours worked in excess of hours 40 in a given work week. The Pennsylvania Code defines a work week as a period of 7 straight days starting on the day the employer chooses. Regardless of whether the employee is paid on an hourly, salaried, or piece rate basis, overtime is paid on a work-week basis.

 

[Runningwolf]

Sound like you're getting paid double time to me everyday! I won't tell if you don't.

 

[djrockinsteve]

Under the FLSA and the Pennsylvania Minimum Wage Act, employers must pay overtime to qualified non-exempt employees. Overtime hours are hours worked in excess of hours 40 in a given work week. The Pennsylvania Code defines a work week as a period of 7 straight days starting on the day the employer chooses. Regardless of whether the employee is paid on an hourly, salaried, or piece rate basis, overtime is paid on a work-week basis.

Okay Larry then what is the new total?

 

[Larryh86GT]

Dunno. I get a headache just thinking about it.

 

[Deezil]

Dunno. I get a headache just thinking about it.

That's how you know you a winner!

 

[BIGJEFF]

I wonder if I could onvince the Minister of National defence to pay me as per the penny method.....

 

[whine4wine]

I heard this same senario for golf.
1 dollar start, double each hole......let your opponent win the first few holes.
It adds up fast.

 

[Larryh86GT]

Okay Larry then what is the new total?

The math teacher saw that Larry wasn't paying attention in class.
She called on him and said, 'Larry! What are 2 and 4 and 28 and 44?'
Larry quickly replied, 'NBC, FOX, ESPN and the Cartoon Network!'