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

Algebra ->  Sequences-and-series -> 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      Log On


   

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) About Me  (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