If i save a penny a everyday and double it every day how much money would i have in one year

A penny doubled every day for 1 year (365 days) will give you this amout: $751 533 626 487 626 632 924 633 790 972 587 848 760 218 415 650 662 358 626 333 110 890 306 888 036 674 701 908 383 679 483 125 984 970 219 192.32

The formula is simple: 2 raised to the power of x where x is the number of days. So after 365 days, you get 2365 pennies.

Ever wonder how to read this insanely enormous amount of money? Here's a list of all the big numbers to help you figure it out.

While there is not much you can buy with a penny anymore, the doubling penny has a lot to teach us about investing. The simple act of doubling your previous day’s investment can rapidly reap huge rewards, thanks to the powerful concept known as compounding.

To make compounding work for you, SavingToInvest.com offers these three basic principles.

Check out how to make a penny worth more at DGlobe.com.

Tags: penniesmoney 

Friday, January 15 2016