Pennywise HYIB: The king of Absurdity

Just last week, some dudes came to my office to offer the ever enticing money doubling schemes. I don’t think am being fair in calling Pennywise money doubling or S’ogun D’ogoji because man, Pennywise is something else!

This is how it works. You give them a paltry N2,500 for a slot and over a period of 9 weeks, the scheme will pay out a cumulative of N251,390. Effectively, you multiply any amount you put inside by 100 in 9 weeks. Interesting!

What if I decide to invest just N250K back? Further still, or what happens if I decide to roll over my investment every 9 weeks for a period of 1 year?

With my MS Excel, this is what I get:

Week
Naira
Dollars
0
2,500.00
19.23
9
250,000.00
1,923.08
18
25,000,000.00
192,307.69
27
2,500,000,000.00
19,230,769.23
36
250,000,000,000.00
1,923,076,923.08
45
25,000,000,000,000.00
192,307,692,307.69
54
2,500,000,000,000,000.00
19,230,769,230,769.20

So with my humble N2,500 in January 1, I could, by second week of January the next year, be worth over $19 trillion, isn’t that wonderful?

Yeah, this is Pennywise!

Comments 1

  1. Lanre Basamta wrote:

    This was actually Penny n Pound dumb

    Posted 02 Nov 2016 at 10:26 am

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