Question: As a contest winner, you are given the choice of two prizes. The first choice awards $1000 the first hour, $2000 the second hour, $3000

As a contest winner, you are given the choice of two prizes. The first choice awards $1000 the first hour, $2000 the second hour, $3000 the third hour, and so on. For one entire year, you will be given $1000 more each hour than you were given during the previous hour. The second choice awards 1 the first week, 2 the second week, 4 the third week, and so on. For one entire year, you will be given double the amount you received during the previous week. Which of the two prizes will be more profitable, and by how much?

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The second choice is more profitable by approximately 45 trillion The first choice forms an arithmet... View full answer

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