The initial amount in the jackpot was x dollars. The amount added to the jackpot was 
. So the amount in the jackpot on the next day would be 
dollars.
So the amount in the jackpot on the next day would
of the previous day. This can be modeled by a geometric sequence with the following formula
where A = amount in future,
x = initial amount,
r = rate of change,
n= number of days.
In this case, A = 4747.50, r =
Hence,
Thus x = $49.
So the amount in the jackpot on the next day would
where A = amount in future,
x = initial amount,
r = rate of change,
n= number of days.
In this case, A = 4747.50, r =
Hence,
Thus x = $49.
