If you have a penny, and each day you increase your money by 50% for a year, how much money would you end up with?
FV=PV(1+r)^n=1(1.50)^365=1.88 X 10^64 pennies=$1.88 X 10^62 in one year.
This is a Geometric progression: 1, 1.5, 2.25, 3.375, 5.0625...............365th term.
Sum them all up and you get=3.75 X 10^64 pennies=$3.75 X 10^62 dollars.
