SOLUTION: If I saved one cent on January 1st, and two cents on January 2nd, and 3 cents on January 3rd, and continued this progrssion for a full year, how much will I have saved after 365 da

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: If I saved one cent on January 1st, and two cents on January 2nd, and 3 cents on January 3rd, and continued this progrssion for a full year, how much will I have saved after 365 da      Log On


   

Question 550802: If I saved one cent on January 1st, and two cents on January 2nd, and 3 cents on January 3rd, and continued this progrssion for a full year, how much will I have saved after 365 days?
Answer by Edwin McCravy(20056) About Me  (Show Source):
You can put this solution on YOUR website!
The artithmetic series is

$0.01 + $0.02 + $0.03 + ... + $3.63 + $3.64 + $3.65

with d = $0.01

Sn = n%2F2(a1 + an)

S365 = 365%2F2($0.01 + $3.65)

S365 = 365%2F2($3.66) = $667.95

[But don't forget that 2012 is a leap year and has 366
days, not 365.  So if that happened in 2012 it would be $671.61. :)]

Edwin