Wages for Pet Care
How much should you charge?
Your neighbor family is going on a vacation for thirty days and asks you to take care of their family pet. Since the family pet is very valuable they are concerned that it gets very good care. They explain this to you and ask which method of payment you would prefer:
- $10.000 a day for each day they are gone and the pet lives.
- $.01 the first day, $.02 the second day, $.04 the third day, $.08 the fourth day and so forth for each day the pet lives.
You are not concerned about the pet dying, since you will take vary good care of it. Assuming the pet lives all thirty days, which plan will you take to make the most money?
Hint: Hint: Make a chart and use a calculator.
Discussion: Most people's initial thought is:go for the big money up front. Don't jump to conclusions, work it out ...