Arithmetic and Geometric Sequences
Here is the question:
In an old story, a king asked a peasant to come and work for him. They both agreed that the job to be done could be completed in a month (30 days). The peasant asked the king if he could be paid in the following way: "On the first day that I work, I would like to be paid one penny. Each day that I work, I would like you to double my income." The king thought this was a great deal and happily agreed.
Analyze the deal that the king and the peasant made to determine whether or not the peasant made a good deal with the king.
Now I know that the peasant is getting the better deal. And I believe I have to use the formula tn=ar^n-1.