I have used this as an opener to a lesson on compound interest and students loved it!
Challenge your students by giving them a few minutes to come up with an answer. You may need to get students started by talking them through how the penny doubling works (start with $0.01, double your money on day one, so now you have $0.02, double your money on day 2, so now you have $0.04…). Before working through the solution, have students with a show of hands indicate their choice.
Some will likely create a chart like this while others may just guess:
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