Question

a life insurance agent is to be paid a commission according to the following scheme : 1000$ in year 1, half the year 1 amount in year 2, half the year 2 amount in year 3, etc. what is the total of the all amounts received by the agent in the first 5 years ?

Answer 1

1 + 1/2 + 1/4 + 1/8 + 1/16 = 31/16
multiply by starting amount.