Allyson’s dad is an accountant.
Accountants help people and businesses manage
and keep track of their money and spending.
Mr. Cahill’s math problem:
If you started with 1 penny
and doubled
your money each day, how many days would it
take to reach one million dollars ($ 1, 000, 000)?
Days
Total Amount of Money
Day 1
1 cent = $ .01
Day 2
2 cents = $ .02
Day 3
4 cents = $ .04
Day 4
8 cents =$ .08
Day 5
16 cents = $ .16
Day 6
32 cents = $ .32
Day 7
64 cents = $ .64
Day 8
128 cents = $1.28
Day 9
256 cents = $2.56
Days
Total Amount of Money
Day 10
512 cents = $5.12
Day 11
1024 cents = $10.24
Day 12
2048 cents = $20.48
Day 13
4096 cents = $40.96
Day 14
8192 cents = $81.92
Day 15
16,384 cents = $163.84
Day 16
32,768 cents = $327.68
Day 17
65,536 cents = $655.36
Day 18
131,072 cents = $1,310.72
Days
Total Amount of Money
Day 19
262, 144 cents = $2,621.44
Day 20
524,288 cents = $5,242.88
Day 21
1,048,576 cents = $10,485.76
Day 22
2,097,152 cents = $20,971.52
Day 23
4,194,304 cents = $41,943.04
Day 24
8,388,608 cents = $83,886.08
Day 25
16,777,216 cents = $167,772.16
Day 26
33,554,432 cents = $335,544.32
Day 27
67,108,864 cents = $671,088.64
Days
Day 28
Total Amount of Money
134,217,728 cents = $1,342,177.28
You would be a millionaire on day 28!
Thanks Mr. Cahill for a great math problem!