Question

If you get a penny a day from your uncle and each day he doubles the amount he gave you on the previous day how much would he give you on the twentieth day

Answer 1

Answer: On the 20th day, he will give $5242.88

Step-by-step explanation: This is a geometric series with elements:

initial value ($a_{0}$) = 0.01

ratio = 2

At the twentieth day means the 20th term, i.e. n = 20.

To determine that term, use the formula: $a_{n} = a_{0}.r^{n-1}$

Substituing terms:

$a_{20} = 0.01.2^{20-1}$

$a_{20} = 0.01.2^{19}$

$a_{20} = 0.01.524288$

$a_{20} = 5242.88$

Then, on the 20th day, your uncle gave to you $5242.88