Our first exercise explores the idea of compound growth.
The game of chess was invented around the 6th century in India. Legend says that it was invented by a Brahmin named Sissa for the entertainment of a monarch. The king was so pleased by Sissa's game that he allowed him to name his reward.
Sissa requested a grain of wheat for the first square on the chessboard, followed by a doubling for each subsequent square on the board. Sissa's wish was granted.
If we substitute a penny for the first square and doubled it for each remaining square on a chessboard, how much money would you end up with?
Use Excel to answer this puzzle, by first setting up a column showing the payout for each square (the long method), second by applying the FV formula in one cell. Third, create a line graph depicting the payout - make sure that you label the graph properly with a title, and that the x and y-axes are clearly formatted.
Submit your findings in the form of an Excel spreadsheet (with your name attached) to me via email at rwiegs@gmail.com
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