How to Amaze Everyone With How One Penny Could Make You Rich!

Have you ever thought of what it would be like to have extra money so that you could save or invest? Here is a comparison that many math, business, and accounting teachers know about and sometimes may show to students to amaze them with the power of:
Saving a set amount each day like $10.00 or $100.00 per day, week, month...

Versus compounding your money by doubling a small amount in each period of time.

Well, here's how to do the magic...


1 Decide which you would rather do:

Save a set amount, and so what if you could save a large amount daily $1,000.00 a day for one month, for comparison.
Or, save "double your money each day" for a month starting with one cent.


2 Calculate the first way which would be at most:

$1,000.00 x 31 = $31,000 and so this is the best you could save, right?


3 Calculate the second technique starting with a single penny (one cent) = $0.01 and start doubling it daily. That's not going to be very much, or is it?


4Double $0.01 = $0.02 day one.

2 x $0.02 = $0.04 day two.
2 x $0.04 = $0.08 day three.
2 x $0.08 = $0.16 day four.
2 x $0.16 = $0.32 day five.
2 x $0.32 = $0.64 day six.
2 x $0.64 = $1.28 day seven (or $1.25 to make it easy).
2 x $1.25 = $2.50 day eight. Here you see it has been simplified a little by rounding down by a few pennies.


5 Double $2.50 = $5.00 day nine.


6 Check that on the 10th day
 it is 2 x $5 = $10.00.


7 See that and next 

it's $20, and then $40, $80, $160, $320, $640, $1280; rounding 2 x $1250 = $2500; $5000.

That's only $5000 after 19 days.


8 Examine the fact that

 it is $10,000 after 20 days of doubling your money.


Tips
Do double the business each period of time. Well, at some point, it could be more than you might actually be able to ever do, at one time.

One idea is to sell something that cost you nothing or just one cent for two pennies on the first day. Do that twice on day two, etc (although eventually you will run out of things to sell).
Jewelers may sell jewelry for double or triple what its raw cost was. They have to pay the cost of the office, the sales people, store and advertising, of course.

Consider whether it might take longer as the amounts increased -- but could it still be done in a week, one month or two?

Business volume is 'not likely to double (and double repeatedly) without more of everything like stores and employees. That's where selling franchises comes in, or even doubling your own number of stores 2, 4, 8, 16, 32,... stores. Wow, but it would take time and money...