SOLUTION: In a financial deal, you are promised $100 the first day and each day after that you will receive 45% of the previous day's amount. When one day's amount drops below $1, you stop g

SOLUTION: In a financial deal, you are promised $100 the first day and each day after that you will receive 45% of the previous day's amount. When one day's amount drops below $1, you stop g

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Question 862874: In a financial deal, you are promised $100 the first day and each day after that you will receive 45% of the previous day's amount. When one day's amount drops below $1, you stop getting paid from the day on. What day is the first day you would receive no payment and what is your total income?
Answer by richwmiller(17219) (Show Source): You can put this solution on YOUR website!
.45^n*100<1
n=6 s=.83
1 45.00
2 20.25
3 9.11
4 4.10
5 1.84
Add the previous 5 amounts
6 .83
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