You are given two offers for a monthly wage. Option A is to be paid one cent on the first day of the month, with your wages doubling each day (2 cents on day 2, 4 cents on day 3, 8 cents on day 4, etc.) for the rest of this 30 day month. Option B is to be paid $1 on the first day of the month, with your wages increasing $100 each day ($101 on day 2, $201 on day 3, $301 on day 4, etc.). Which option will give you more money by the end of the month? Make sure to support your answer.

If you begin with one dollar a day there will get you more by the end of the month because on day 2 your on 201 already which is more than you get in that month with one cent.

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keshavgandhi04 keshavgandhi04 · Answer 2 · 2022-08-05T07:33:55+02:00

The first option (A) will give you more money than option (B).

What are the geometrical progression series and arithmetic progression series?

A geometric progression is a sequence in which any element after the first is obtained by multiplying the previous element by a constant which is called a common ratio denoted by r.

The difference between every two successive terms in a sequence is the same this is known as an arithmetic progression (AP).

Given that

Case A). Doubling each day

1 + 2+ 4 + 8 + 16 .... it is form a GP series with common ratio (r) 4/2 = 2

Number of terms (n)

Sum = 30( [tex]2^{30}[/tex] - 1)/(2 - 1) = $2147483464.

Case B). Adding $100 each day

1 + (101 + 201 + 301 ....) it is form a ap series with common difference d = 201 - 101 = 100.

Number of terms = 29

Sum = 1 + 29/2 + [ 2 (101) + 28(100)] = $43530

Hence it is clear that case (A) will give you more money.

For more information about the geometrical progression

brainly.com/question/4853032

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