A certain library assesses fines for overdue books as follows. On the first day that a book is overdue, the total fine is $0.07. 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?
Choose the correct choice from the following choices:
A) $ 0.60	B) $ 0.70	C) $ 0.86	D) $ 0.90	E) $ 1.00

Rationale: "1 st day fine - 0.07 2 nd day fine - 0.07 * 2 = 0.14 ( as doubling gives lower value ) 3 rd day fine - 0.14 * 2 = 0.28 ( as doubling gives lower value ) 4 rd day fine - 0.28 * 2 = 0.56 ( as doubling gives lower value ) 5 th day fine - 0.56 + 0.3 = 0.86 ( as doubling gives higher value we add 0.3 this time ) answer : c ."
Answer: C