The secret to Investing with Blurt …
Try to Double your Blurt every day for 30 days.
See what happens …..
Still the most mind-blowing example of compound interest is a penny doubling every day.
Day 1: $0.01
Day 2: $0.02
Day 3: $0.04
Day 4: $0.08
Day 5: $0.16
Day 6: $0.32
Day 7: $0.64
Day 8: $1.28
Day 9: $2.56
Day 10: $5.12
Day 11: $10.24
Day 12: $20.48
Day 13: $40.96
Day 14: $81.92
Day 15: $163.84
Day 16: $327.68
Day 17: $655.36
Day 18: $1,310.72
Day 19: $2,621.44
Day 20: $5,242.88
Day 21: $10,485.76
Day 22: $20,971.52
Day 23: $41,943.04
Day 24: $83,886.08
Day 25: $167,772.16
Day 26: $335,544.32
Day 27: $671,088.64
Day 28: $1,342,177.28
Day 29: $2,684,354.56
Day 30: $5,368,709.12
Less than $1 after a week
More than $5.3 million after 30 days.
Sadly, a more common problem occurs with a government doubles the pennies in circulation every day. When that happens, the pennies held by the people devalue to zero.
😀
They devalued the Canadian dollar so much, they had to remove the penny here in 2012. Now everything rounds to the nearest 0.05 CAD.