Monday Math: Frugal Frank

Posted by MomOnMars on November 28, 2011

Welcome to Shana’s Corner, where each Monday, I post a question from the Blue Filing Box of math problems. The first person with the correct answer wins. This week’s prize is a Scotch-Brite/Post-It Gift Basket that includes all kinds of wonderful desktop helpers including Post-It Notes Cube, durable tabs, flag highlighters, Post-It flag pen and my personal fav – Scotch Brite botanical wipes.

Frugal Frank

Frank Frugal decided to save money every day in November. He would save one cent on the first day, and each day double the amount saved on the previous day. If November has 30 days, how much would Frank have to save on the last day of the month.

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Dionna Cruz

Is the answer 62?

Dionna Cruz

or 60

http://twitter.com/sabusykids Debi Pfitzenmaier

Nope…want to give it another try?

Flutiemcd

enough to buy the #topchef house in monte vista a couple times over…. $10,737,418.20

http://twitter.com/sabusykids Debi Pfitzenmaier

Oh…so close…read the question VERY carefully…..

Alyssa

$5,368,709.12

http://twitter.com/sabusykids Debi Pfitzenmaier

Alyssa! You’ve got the correct answer. Congratulations and well done! Please check your email inbox for details.

Anonymous

Congrats Alyssa!!

http://twitter.com/sabusykids Debi Pfitzenmaier

So here’s how we came up with that number….you start with one penny. Second day…two pennies. Third day…four pennies. Fourth day…eight pennies. Every day, you multiply the number by two…starts to add up pretty quickly.

Here’s a chart I found of the actual numbers: http://advancedlifeskills.com/blog/would-you-rather-have-a-million-dollars-or-a-penny/.

So here’s the deal – if anybody asks you if you’d rather have a million dollars or a penny doubled every day for a month…take the penny!