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Math Help - Ive Worked Out How To Get Rich Quick !!!PROBLEM!!!

  1. #1
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    Exclamation Ive Worked Out How To Get Rich Quick !!!PROBLEM!!!

    "Ive worked out how to get rich quick" said nadia. "lets send emails telling people to send us $1 and to send copies of the email to four friends. in return we will offer them seven years good luck. if everyone responds and the chain grws a link a week, we will collect $4 in week 1, another $16 dollars in week 2. we will be millionaires in less than three months!" how long would it take to collect one million dolars?

    HELP ME IM IN GRADE 8 AND I CANT FIGUIRE IT OUT ITS DOING MY HEAD IN ANY HELP WOULD BE GREATLY APPRECIATED. ITS DUE IN TWO DAYS PLEASE HELP!
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  2. #2
    Senior Member topher0805's Avatar
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    I'm actually surprised that they would give an 8th grader this question.

    The formula you want to use is:

    M = 5^t

    Where M is the amount of money made and t is the time in weeks.

    Set M = 1,000,000 and solve for t.

    Do you even know how to do this in 8th grade?
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  3. #3
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    Learning logs in eighth grade??

    Thats....interesting
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  4. #4
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    Quote Originally Posted by stuck View Post
    "Ive worked out how to get rich quick" said nadia. "lets send emails telling people to send us $1 and to send copies of the email to four friends. in return we will offer them seven years good luck. if everyone responds and the chain grws a link a week, we will collect $4 in week 1, another $16 dollars in week 2. we will be millionaires in less than three months!" how long would it take to collect one million dolars?

    HELP ME IM IN GRADE 8 AND I CANT FIGUIRE IT OUT ITS DOING MY HEAD IN ANY HELP WOULD BE GREATLY APPRECIATED. ITS DUE IN TWO DAYS PLEASE HELP!
    f(t)=4^t

    Solve for 1000000=4^t

    \log{1000000}=\log{4^t}

    6 = t \log{4}

    t = \frac{6}{\log{4}} \Rightarrow 9.97

    It would take 9.97 weeks, but since the money grows at the beginning or end of each week, it must be the next highest integer, so 10 weeks is the time it takes to grow to one million.
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  5. #5
    Bar0n janvdl's Avatar
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    Quote Originally Posted by mathgeek777 View Post
    Learning logs in eighth grade??

    Thats....interesting
    Indeed! What will they think of next? Calculating the present day value of the money after the 10 weeks?
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  6. #6
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    Quote Originally Posted by topher0805 View Post
    I'm actually surprised that they would give an 8th grader this question.

    The formula you want to use is:

    M = 5^t

    Where M is the amount of money made and t is the time in weeks.

    Set M = 1,000,000 and solve for t.

    Do you even know how to do this in 8th grade?
    i had no idea how to do it we havnt even learnt this yet thanks for helping me
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