Question

A lottery winner must decide between two methods of payment. Choice one is to receive a lump sum of $100,000,000. Choice two is to begin with one cent on day 1, five cents on day 2, 25 cents on day three, and so on until the end of 16 days. Which choice should the lottery winner select? Using complete sentences, explain the procedure taken to answer this question

Answer 1

looks like geometric series...\[5^{0}+5^{1}+5^{2}+...+5^{n-1}\]
where n is the number of the day. Just find it's sum for n=16

Answer 2

thank you

Answer 3

you welcome