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? Choose the correct choice from the following:
A) $ 0.60  B) $ 0.70  C) $ 0.80  D) $ 0.90  E) $ 1.00

Rationale: 1 st day fine - 0.05 2 nd day fine - 0.05 * 2 = 0.1 ( as doubling gives lower value ) 3 rd day fine - 0.1 * 2 = 0.2 ( as doubling gives lower value ) 4 th day fine - 0.2 * 2 = 0.4 ( as doubling gives lower value we add 0.3 this time ) 5 th day fine - 0.4 + 0.3 = 0.7 ( as doubling gives higher value we add 0.3 this time ) answer : b .
Answer: B