Question
The first prize in a lottery is $250 000. Each winner chosen after the first is paid 20% as much as the winner before them.
b) Determine an explicit formula for the general term. (2 marks)
c) Determine a formula for the sum of n terms of the geometric sequence. (2 marks)
d) If 5 winning numbers are chosen,
i) how much will the last person chosen be paid? (1 mark)
ii) how much will have been paid out in the lottery?(1 mark)
b) Determine an explicit formula for the general term. (2 marks)
c) Determine a formula for the sum of n terms of the geometric sequence. (2 marks)
d) If 5 winning numbers are chosen,
i) how much will the last person chosen be paid? (1 mark)
ii) how much will have been paid out in the lottery?(1 mark)
Answers
Steve
Clearly, the nth winner gets
250000 * 0.20^(n-1)
This is just a geometric series with
a = 250000
r = 1/5
So, just apply your seies formulas
250000 * 0.20^(n-1)
This is just a geometric series with
a = 250000
r = 1/5
So, just apply your seies formulas