A television quiz show takes place every day. On day 1 the prize money is $1000. If
Question:
A television quiz show takes place every day. On day 1 the prize money is $1000. If this is not won the prize money is increased for day 2. The prize money is increased in a similar way every day until it is won. The television company considered the following two different models for increasing the prize money.
Model 1: Increase the prize money by $1000 each day.
Model 2: Increase the prize money by 10% each day.
On each day that the prize money is not won the television company makes a donation to charity.
The amount donated is 5% of the value of the prize on that day. After 40 days the prize moneyIhas still not been won. Calculate the total amount donated to charity
i. If Model 1 is used,
ii. If Model 2 is used.
Step by Step Answer:
Cambridge International AS And A Level Mathematics Pure Mathematics 1 Coursebook
ISBN: 9781108407144
1st Edition
Authors: Sue Pemberton, Julian Gilbey