Question

Suppose you go to work at a company that pays $0.02 for the first day, $0.04 for the second day, $0.08 for the third day, and so on. If the daily wage keeps doubling, what would your total income be for working 29 days

Answer 1

$ 10,737,418.23

Step-by-step explanation:

Given:

Amount paid on the first day = $ 0.02

Amount paid on the Second day = $ 0.04

Amount paid on the third day = $ 0.08

number of days, n = 29

also,

the wages is doubling daily

therefore,

The total of the wages for 29 days will be = $ 0.02 + $ 0.04 + $ 0.08 + ....

or we can form the relation as

= $ 0.02 × ( 2⁰ + 2¹ + 2² + 2³ + ........ )

or

=
`\sum_(k=0)^(29)2^n`

or

=
`0.01*(2^(n+1)-1)`

or

=
`0.01*(2^(29+1)-1)`

or

= $ 10,737,418.23