A certain library assesses fines for overdue books as follows. On the first day that a book is overdue, the total fine is $0.05. For each additional day that the book is overdue, the total fine is either increased by $0.30 or doubled, whichever results in the lesser amount. What is the total for a book on the fifth day it is overdue? Select the correct option:  A) $0.60  B) $0.70  C) $0.80  D) $0.90  E) $1.00
1st day fine - 0.05   2nd day fine - 0.05*2 = 0.1 (as doubling gives lower value)   3rd day fine - 0.1*2 = 0.2 (as doubling gives lower value)   4th day fine - 0.2 *2 = 0.4 (as doubling gives lower value we add 0.3 this time)   5th day fine - 0.4 +0.3 = 0.7 (as doubling gives higher value we add 0.3 this time)   Answer: $0.70.
<result>B</result>
A certain library assesses fines for overdue books as follows. On the first day that a book is overdue, the total fine is $0.05. For each additional day that the book is overdue, the total fine is either increased by $0.30 or doubled, whichever results in the lesser amount. What is the total for a book on the fifth day it is overdue?