Name: Holly Hutson
Who is asking: Student
Level: Secondary

I need an equation for the following word problem:

If one cent were placed in an investment that doubles in value every day, what would be the value of the investment at the end of 30 days?

I must keep track of the number of days with the amount of the money.
1 .01
2 .02
3 .04
4 .08
5 .16
ETC. So, I need the baisc formula used for every day! I also need the final formula for 30 days! If you could help me, I would greatly appreciate it!

Thank You,
Holly Hutson
North Carolina

Hi Holly

The key here is to shift the first column down one row.

DayDay -1Value
10 .01
11 .02
12 .04
13 .08
14 .16
and note that 21 = 2, 22 = 4, 23 = 8, ...

Hence the value on a particular day of the month is 2day-1 cents.


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