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Home » » Courses » Mathematics » Advanced Mathematics 3205 (delisted) » Unit 03 » Set 01 ILO 01 » Problem
One would be tempted to take the $1 000 000 since a penny for the first day and doubled each day after would lead you to believe it will not amount to very much for 31 days. However, consider the following table and remember that you would have to total the full amount at the end to find out actually how much money you would receive for the 31 days.
|
Day |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
|
Amount |
1 |
2 |
4 |
8 |
16 |
32 |
64 |
128 |
256 |
512 |
|
Amount |
20 |
21 |
22 |
23 |
24 |
25 |
26 |
27 |
28 |
29 |
As can be seen from this table you will have to find the sum of
This would is very time consuming but the sum in the end is $21 474 836.47
Check it out yourself!