Question

$1 on day one, and each following day you receive 55% more than the previous day’s amount for 30 days. How much would you receive on day 30?

Answer 1

Answer:

$512804.24

Step-by-step explanation:

The solution to the problem is the following:

Day 1: $1

Day 2: $1.55

Day 3: $2.4

Day 4: $3.7

Day 5: $5.77

Day 6: $8.9

Day 7: $13.87

Day 8: $21.49

Day 9: $33.32

Day 10: $51.64

Day 11: $80.04

Day 12: $124.06

Day 13: $192.30

Day 14: $298.07

Day 15: $462

Day 16: $716.10

Day 17: $1109.96

Day 18: $1720.44

Day 19: $4133.36

Day 20: $6406.70

Day 21: $9930.39

Day 22: $15392.10

Day 23: $23857.76

Day 24: $36979.53

Day 25: $57318.27

Day 26: $88843.32

Day 27: $13770.15

Day 28: $213446.09

Day 29: $330841.44

Day 30: $512804.24

Adding up all the amounts we get that I will receive on day 30 $512804.24.

Answer 2

Answer:

$330,840.94

Also, the sum of all 30 days is $932,368.11

Step-by-step explanation:

found using this equation: $1*1.55^3^0^-^1$

also all this is correct on edgen