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Problem 1 Consider that you are offered $ 1 million today and nothing more or a penny today and double what you have each day

Problem

1

Consider that you are offered $

1

million today and nothing more or a penny today and double what you have each day there after for

60

days. If you do not spend any of the money in the

60

day period you are getting paid, find how much you will have at the end of the second offer. Which is a better offer?

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