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Two Different Savings Plan
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In plan A, you add $100 to your savings every day for a month. In plan B, you put a penny into your savings on the first day, double your input the second day and continue to double the input for the whole month. The following chart shows the input of the two plans.
|
Day # |
Plan A |
Plan B |
|
1 |
$100.00 |
$0.01 |
|
2 |
$100.00 |
$0.02 |
|
3 |
$100.00 |
$0.04 |
|
4 |
$100.00 |
$0.08 |
|
5 |
$100.00 |
$0.16 |
|
6 |
$100.00 |
$0.32 |
|
7 |
$100.00 |
$0.64 |
|
8 |
$100.00 |
$1.28 |
|
9 |
$100.00 |
$2.56 |
|
10 |
$100.00 |
$5.12 |
|
11 |
$100.00 |
$10.24 |
|
12 |
$100.00 |
$20.48 |
|
13 |
$100.00 |
$40.96 |
|
14 |
$100.00 |
$81.92 |
|
15 |
$100.00 |
$163.84 |
|
16 |
$100.00 |
$327.68 |
|
17 |
$100.00 |
$655.36 |
|
18 |
$100.00 |
$1,310.72 |
|
19 |
$100.00 |
$2,621.44 |
|
20 |
$100.00 |
$5,242.88 |
|
21 |
$100.00 |
$10,485.76 |
|
22 |
$100.00 |
$20,971.52 |
|
23 |
$100.00 |
$41,943.04 |
|
24 |
$100.00 |
$83,886.08 |
|
25 |
$100.00 |
$167,772.16 |
|
26 |
$100.00 |
$335,544.32 |
|
27 |
$100.00 |
$671,088.64 |
|
28 |
$100.00 |
$1,342,177.28 |
|
29 |
$100.00 |
$2,684,354.56 |
|
30 |
$100.00 |
$5,368,709.12 |
In the chart above, you saw how much was put into the savings every day. The chart below shows you how much actually accumulated. Plan A would accumulate $3,000, but plan B results in $10,737,418. With multiplication, you can start with something very small and quickly develop into something very large. The following chart shows the accumulations of the two savings plans.
|
Day # |
Plan A |
Plan B |
|
1 |
$100.00 |
$0.01 |
|
2 |
$200.00 |
$0.03 |
|
3 |
$300.00 |
$0.07 |
|
4 |
$400.00 |
$0.15 |
|
5 |
$500.00 |
$0.31 |
|
6 |
$600.00 |
$0.63 |
|
7 |
$700.00 |
$1.27 |
|
8 |
$800.00 |
$2.55 |
|
9 |
$900.00 |
$5.11 |
|
10 |
$1,000.00 |
$10.23 |
|
11 |
$1,100.00 |
$20.47 |
|
12 |
$1,200.00 |
$40.95 |
|
13 |
$1,300.00 |
$81.91 |
|
14 |
$1,400.00 |
$163.83 |
|
15 |
$1,500.00 |
$327.67 |
|
16 |
$1,600.00 |
$655.35 |
|
17 |
$1,700.00 |
$1,310.71 |
|
18 |
$1,800.00 |
$2,621.43 |
|
19 |
$1,900.00 |
$5,242.87 |
|
20 |
$2,000.00 |
$10,485.75 |
|
21 |
$2,100.00 |
$20,971.51 |
|
22 |
$2,200.00 |
$41,943.03 |
|
23 |
$2,300.00 |
$83,886.07 |
|
24 |
$2,400.00 |
$167,772.15 |
|
25 |
$2,500.00 |
$335,544.31 |
|
26 |
$2,600.00 |
$671,088.63 |
|
27 |
$2,700.00 |
$1,342,177.27 |
|
28 |
$2,800.00 |
$2,684,354.55 |
|
29 |
$2,900.00 |
$5,368,709.11 |
|
30 |
$3,000.00 |
$10,737,418.23 |
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