A National Lottery is offering prizes in a new competition. The winner may choose one of the following. Option one: $1000 each week for 10 weeks. Option two: $250 in the first week, $450 in the second week, $650 in the third week, increasing by $200 each week for a total of 10 weeks. Option three: $10 in the first week, $20 in the second week, $40 in the third week continuing to double for a total of 10 weeks. Calculate the amount you receive in the tenth week, if you select (i) option two; (ii) option three. (b) What is the total amount you receive if you select option two? (c) Which option has the greatest total value? Justify your answer by showing all appropriate calculations.
A National Lottery is offering prizes in a new competition. The winner may choose one of the following.
Option one: $1000 each week for 10 weeks.
Option two: $250 in the first week, $450 in the second week, $650 in the third week,
increasing by $200 each week for a total of 10 weeks.
Option three: $10 in the first week, $20 in the second week, $40 in the third week
continuing to double for a total of 10 weeks.
Calculate the amount you receive in the tenth week, if you select
(i) option two;
(ii) option three.
(b) What is the total amount you receive if you select option two?
(c) Which option has the greatest total value? Justify your answer by showing all appropriate calculations.
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