An investor invested a total of $1900 in two mutual funds. One fund earned a 7% profit while the other earned a 4% profit. If
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Answer: $5100
Step-by-step explanation:
Given, The prize money starts at $20 for the first question.
Let a= 20,
Also, Each question is tougher than the one before it, and the station doubles the prize money from the previous amount.
i.e. the sequence prize willbe : $20 , 2 x ($20) , 2² x ($20)x ....
That is its is an geometric progression with the common ratio r= 2,
Since the sum of n terms in GP is given by :-
So the total money will it hand out in prizes after 8 questions would be :
Hence, the total money it will hand out in prizes = $5100