Elementary and Intermediate Algebra: Concepts & Applications (6th Edition)

Published by Pearson
ISBN 10: 0-32184-874-8
ISBN 13: 978-0-32184-874-1

Chapter 14 - Sequences, Series, and the Binomial Theorem - Mid-Chapter Review - Mixed Review - Page 915: 14

Answer

$2^{30}-1\approx 10^9 \text{ dollars}$

Work Step by Step

Each day Dwight receives twice as many dollars as the day before. In other words, his earnings form a geometric progression with $r=2$. On the first day he has 1 dollar. During 3$0$ days he earns $$S_{30}=a_1\dfrac{1-r^{30}}{1-r}.$$ We substitute $a_1=1$ and $r=2$: $$S=1\cdot \dfrac{1-2^{30}}{1-2}=\dfrac{2^{30}-1}{2-1}=2^{30}-1\approx 10^9 \text{ dollars!!!}$$
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