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Algebra
Pregunta

A Rich Man's Promise  A rich man promises to give ...

A Rich Man's Promise 

 

A rich man promises to give you \( \$ 1000 \) on September \( 1 \) . Each day thereafter he will give you \( \frac { 17 } { 20 } \) of what he gave you the previous day. What is the first date on which the amount you receive is less than \( \$ 0.01 \) ? How much have you received when this happens? 

Answer

this forms a GP with common ratio = \(\frac{17}{20}\)

(a) \(\frac{1}{100}= 1000\times (\frac{17}{20})^{n- 1}\)

\(n\approx 71.84052\)

n = 72 

 

(b) 6666.67

Solución
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