Question

Suppose you save $1 the first day of a month, $4 the second day, $16 the third day, and so on. That is, each day you save four times as much as you did the day before. What will you put aside for savings on the seventh day of the month?

Answer 1

$ 4096 on the 7th day

Explanation:

From the amount earned for the first 3 days it's 1 , 4 , 16 , .... We realize it increases exponentially.

So therefore:

Day 1 =4⁰

Day 2=4¹

Day 3=4²

Day 4=4³

Day 5=4⁴

Day 6=4⁵

Day 7=4⁶

Therefore on day 7 he saves 4⁶ which is $4096