Linda here.
Walking across a parking lot last week I spied a penny on the ground.  I picked it up.  Picking up coins off the ground has been a long-standing pastime for me.  Money is money, whether it’s a penny, a quarter or a dollar.   

Not everyone feels the same.  Friends with me have said everything from “A penny is not worth the effort to stop and bend over.”  to “I wonder if a dog just whizzed on that coin?”  It doesn’t stop me, I keep picking up coins whenever I find them.

It’s a good thing I do; I just read an article that asked the question:

“Would you rather have $1,000,000 today or a penny doubled every day for 31 days?”

Most would take the million dollars.  However, those who understand the law of compounding would take the penny, because in 31 days they would have $10,734,418.24!

Here’s how the calculations would go;

Day 1:       $.01
Day 2:       $.02
Day 3:       $.04
Day 4:       $.08
Day 5:       $.16
Day 6:       $.32
Day 7:       $.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
Day 31:     $10,737,418.24

Maybe you should consider picking up pennies too!

To learn more about The Incredible Nature of “Compounding”, click here.
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