But if you break out your calculator and double one penny for 30 days you will be amazed that on day 30 your penny would be worth over $5,000,000. Now if you are like most people, at first you might jump on the million dollar deal. Let me give you an interesting example: if I were to offer you the choice between an immediate cash payment of one million dollars or a magic penny that doubled every day for 30 days, which one would you take? He who understands it, earns it … he who doesn’t … pays it.” At first this quote might seem like a bit of an exaggeration but the math behind it shows that it is not. According to Einstein, “Compound interest is the eighth wonder of the world. And this is where Albert Einstein comes into play.
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