A student decides she wants to save money to buy a used car, which costs $2600....
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A student decides she wants to save money to buy a used car, which costs $2600. She comes up with what she thinks is a very modest savings plan. She decides to save 2 cents the first day and double the amount she saves each day thereafter. On the second day she plans to save 4 cents, on the third day, 8 cents, and so on. (a) Write an expression that represents the amount saved on day n; (b) Write an expression that represents the total amount saved by day n (including day n): (e) Determine how long it will take her to save enough money to buy the car (The answer may surprise you!) A student decides she wants to save money to buy a used car, which costs $2600. She comes up with what she thinks is a very modest savings plan. She decides to save 2 cents the first day and double the amount she saves each day thereafter. On the second day she plans to save 4 cents, on the third day, 8 cents, and so on. (a) Write an expression that represents the amount saved on day n; (b) Write an expression that represents the total amount saved by day n (including day n): (e) Determine how long it will take her to save enough money to buy the car (The answer may surprise you!)
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Here the savings are 24816 This is a geometric progression Here 4 a First term 2 and r common ... View the full answer
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th Edition
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan
Posted Date:
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