Have you heard this fable? 💰✨🤓 the concept of compound interest 💸 #personalfinance #investing

[frankylyles]

I asked my accountant friend this question, and they plainly stated; always take the million if you have the option, the future isn't granted 😂

[QuikdethDeviantart]

it’s not compound interest… it’s exponential growth. compound interest is great but not exponential…

[aceanimations]

I was taught money today is better than money promised tomorrow

[rosemarysbook]

"don't look in the comments, it'll ruins the fun"
dont know why..but that sounds so cute 😭

[edwardblaylock]

This made my day lol. My grampa taught me that when I was 7, except he told a story about a king and a peasant. The king wasn't very nice but was in need of help. The peasant ended up helping the king. Then the king offered the peasant anything and she wanted 1 penny but for the amount to be doubled each day. He accepted but ended up having less money than the peasant. She used the wealth she got to better the lives of the other peasants and made a deal with the king. He would be free from his obligation to pay her if he would make changes in his kingdom to better the lives of his subjects. I wish I could remember exactly how my grandpa told this story, I think it was so clever.

[jordangolden]

Never let them know your next move: double it and give it to the next person.

[taym]

I'd choose the $1, 000, 000. That amount of pennies would be impossible to use.

[sonjakremer]

"You know what? I'm going to take the penny offer."
*dies tomorrow and makes 1 penny*

[ellie]

I fr paused the video and did the math on how much I'd get with the pennies 😭

[gustavomeuren]

language matters: a penny doubled everyday can mean just 2 cents a day and thats it.
"i give you a penny on the first day, and every day forward i give you double the value of the day before"

[peterlosee]

I would just like to point out that the biggest number mentioned in the video was just for day thirty. All the money together would be $10, 737, 418.23, which is nearly eleven times the amount that the other option would give. The biggest problem would be how to deal with that many pennies.

[jacobchantianyoumoe]

Doubling everyday for "30 days" is just me trying to survive for 30 days without dying

[fearreavers]

I knew to take the penny but I also know that sometimes you need that money today, not in a month

[girlysword]

I read a book in elementary school that explained that concept through a fairytale-esque story about giving a king rice. I knew to go with the pennies immediately.

[ruthrudnik]

Yeah I wish my bank did compound interest like that.

[HiKingMargo]

I've heard this one before and knew the right answer was the penny 😅
Still, a great lesson for everyone to hear. Multiple times, if necessary!

[Toy_In_Tub]

The college books for the new semester can't wait for 30 days 😭

[svenjonsson]

The fable is originally about the inventer of chess, he asked for a ricecorn on the first square and doubled for each square (64). The total riceproduction over time til NOW, STILL dont match the amount on the last square... Fun fact!

[udoyxyz]

The python code is -

x=1
for i in range (30):
print (x)
x=x*2
print ("it's done")

[Hellnogizmo]

If a genie asks you this question.. dont take the pennies. Theyll probably crush you with them. 😂