Problem 1 (SK)

Would you rather start with one penny ($0.01) and double your wealth every day or start with one dime ($0.10) and double your wealth every 5 days (assuming you want to get rich)? Explain your answer in detail and show all your math calculations that helped you reach your conclusion.

Do you understand their answers and agree with their conclusions and viewpoints? Based on the Question above and the information below? Expand on that answer please

This is a simple question of instant gratification vs. delayed gratification. In the long run, the faster growing amount will always surpass the slower growing amount, no matter how large the gap between them may be. My answer is that I would rather take the penny that doubles every day. One can simply track the trajectories of the two amounts over the first 10 days to see how the penny will be a drastically quicker path to riches than the dime.

On day one, the principle penny and principle dime start off with the penny at a massive disadvantage. Day two, not much has changed. Two pennies against a dime. Day three, and there are now four pennies. Day four dawns to reveal eight pennies. Things are starting to even out. Day five arrives, and at last the dime is doubled to two. The eight pennies become sixteen, not far behind. Day six arrives, and the pennies have become thirty two, towering over the dime's meager twenty cents of value. By this point, the fast growing pennies will grow far quicker than the slow doubling dime. By day ten, the dimes will be worth $0.40 and the pennies will be worth $5.12.

Just as an interesting side note, it will take the pennies less than a month to reach a million dollars in value. That's pretty fast. Where do I go to redeem this offer?