To find which better option to choose from (a) $1000 per week or (b) $0.02 the first week, $0.04 the second week, $0.08 the third week and so on for the 26 weeks.
Option (b) should be chosen.
Given information:
Two options to choose from (a) $1000 per week or (b) $0.02 the first week, $0.04 the second week, $0.08 the third week and so on for the 26 weeks.
Calculation:
If the first option is chosen, the total amount received would be
The series for the second option is
Here,
Now, find the sum of this geometric series using the formula,
Therefore, the amount received from second option is
Chapter 9 Solutions
High School Math 2015 Common Core Algebra 2 Student Edition Grades 10/11
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