anonymous
  • anonymous
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, four cents on day 2, 16 cents on day three, and so on until the end of 18 days. Which choice should the lottery winner select? And what is the amount?
Mathematics
jamiebookeater
  • jamiebookeater
See more answers at brainly.com
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get this expert

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this
and thousands of other questions

anonymous
  • anonymous
Choice 1: amount 100 000 000 Choice 2: amount: 0.01 (4)^(18-1) Lottery winner should choose the second choice
anonymous
  • anonymous
Oh I see, and the amount of choice 2 is 171,798,691.84?
matt101
  • matt101
He should choose the second option. The second option quadruples the previous day's winnings. This happens 17 times over the 18 days, meaning he would get: 0.01*(4^17) ~ $171 798 692, which is more than the first option.

Looking for something else?

Not the answer you are looking for? Search for more explanations.

More answers

anonymous
  • anonymous
check with a calculator
anonymous
  • anonymous
Thank you so much!

Looking for something else?

Not the answer you are looking for? Search for more explanations.