You have one penny and it doubles in value every hour. How much money would you have after one day?
• At 01:00, you would have 2p.
• At 02:00, you would have 4p.
• At 03:00, you would have 8p.
• At 04:00, you would have 16p.
• At 05:00, you would have 32p.
• At 06:00, you would have 64p.
• At 07:00, you would have £1.28.
It took the first seven hours of the day to make over £1. So you are waking up to seeing just over £1.
• At 08:00, you would have £2.56
• At 09:00, you would have £5.12
• At 10:00, you would have £10.24
It is still the morning and you have already made £10.
• At 11:00, you would have £20.48
• At 12:00, you would have £40.96
Half the day has gone by and you have made £40.96 from 1p.
• At 13:00, you would have £81.92
• At 14:00, you would have £163.84
• At 15:00, you would have £327.68
At the time of me writing this article most Brits make less than £100 per day. By 3pm it is clear that you have made more than most Brits make in one day because you have £327.68 and you still have 9 hours of the day to go.
• At 16:00, you would have £655.36
• At 17:00, you would have £1,310.72
So you get home and start making your dinner and realize that you have over £1000 from 1p
At 18:00, you would have £2,621.44
At 19:00, you would have £5,242.88
At 20:00, you would have £10,485.76
At 21:00, you would have £20,971.52
At 22:00, you would have £41,943.04
At 23:00, you would have £83,886.08
Then finally at midnight you have made a whopping
£167,772.16 from 1p
At the time of me writing this, most Brit's make less than £50 thousand per year. If you doubled 1p 24 times you would have more than three times as much.
