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If you had a starting bank of £100 and backed a 1.01 with full bank (Initially £100) for 300 consecutive days, what would your end bank be?????
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kenbo, odds on that would happen but lets say you succeeded? Would it be enough to buy a decent lunch?
100 time 1.01 to the power of 300?
I'm good at sums but poor at mathematics, if that makes sense?
I'm good at sums but poor at mathematics, if that makes sense?
I suspect anybody with Maths "O" level should be able to give you the algebraic formula but I can't.
However I suspect it's a lot more than you think assuming they all won.
However I suspect it's a lot more than you think assuming they all won.
Yes but I want you guys to think for a minute or 2, very quiet on here and no b1tching goin on
Surely it's 100x1.01 to the power of 300? I got £1978 so if that's wrong then I wouldn't be able to do it without using a calculator 300 times!
Used a compound interest calculator but put in 300 years 1 % interest and that was the result.
Some maths whizz will be along shortly to less us know. I'm sticking to my answer though!!
s.kenbo 24 Nov 15 19:35 Joined: 05 Aug 12 | Topic/replies: 8,289 | Blogger: s.kenbo's blog
£1705.67 imo
£1705.67 imo
£1705.68 to be precise but we can put the penny in Sir_Bonds Real betfair account and that will increase his balance to £0.01
Simply type what is 100 x 1.0095 to the power of 300 into Google and
it will spit back the answer 1705.67775
it will spit back the answer 1705.67775
Tried another compound interest calculator is says £1978.85..
You can do it on a spread sheet
| Price | Stake | Winnings | 5% Com | Total returns |
| 0.01 | £100.00 | £1.00 | £0.05 | £100.95 |
| 0.01 | £100.95 | £1.01 | £0.05 | £101.91 |
| 0.01 | £101.91 | £1.02 | £0.05 | £102.88 |
| 0.01 | £102.88 | £1.03 | £0.05 | £103.85 |
| 0.01 | £103.85 | £1.04 | £0.05 | £104.84 |
| 0.01 | £104.84 | £1.05 | £0.05 | £105.84 |
| 0.01 | £105.84 | £1.06 | £0.05 | £106.84 |
| 0.01 | £106.84 | £1.07 | £0.05 | £107.86 |
| 0.01 | £107.86 | £1.08 | £0.05 | £108.88 |
| 0.01 | £108.88 | £1.09 | £0.05 | £109.92 |
| 0.01 | £109.92 | £1.10 | £0.05 | £110.96 |
| 0.01 | £110.96 | £1.11 | £0.06 | £112.01 |
| 0.01 | £112.01 | £1.12 | £0.06 | £113.08 |
| 0.01 | £113.08 | £1.13 | £0.06 | £114.15 |
| 0.01 | £114.15 | £1.14 | £0.06 | £115.24 |
| 0.01 | £115.24 | £1.15 | £0.06 | £116.33 |
| 0.01 | £116.33 | £1.16 | £0.06 | £117.44 |
| 0.01 | £117.44 | £1.17 | £0.06 | £118.55 |
| 0.01 | £118.55 | £1.19 | £0.06 | £119.68 |
| 0.01 | £119.68 | £1.20 | £0.06 | £120.82 |
| 0.01 | £120.82 | £1.21 | £0.06 | £121.96 |
| 0.01 | £121.96 | £1.22 | £0.06 | £123.12 |
| 0.01 | £123.12 | £1.23 | £0.06 | £124.29 |
kembo its not 300x 1.01 the stake is going up 100 on at 1.01 = 101 its increasing with every win less commision
I think mart is right the way the question is phrased which is why I think the answer is a lot more than the figures being quoted. It's equivalent to the difference between compound and simple interest.
Oh I can't get my head round it. Yes if you weren't adding on the bank it would presumably come to + £300 less commission so I probably am barking up the wrong tree. Cue Mafia's picture of Columbo 
You have to round at each step because you can't bet in fractions of a penny, so you can't just bang it into a calculator.
the bank would be blown out of the water why 300 days at 1.01 .. 1.01 get beat every day
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