ExampleGroupGroup3

Back to Example Group Problem

This situation can be modeled with an exponential growth function, using an initial value of $0.01 and a growth factor of 2. Using the equation f(x) = 0.01(2^(x-1)), we used an Excel sheet to create a table of the amount in the account for the first 31 days.

__Solution__
If you win in the months of February, April, June, September, November, then take the cash. If you win during any of the other months take the penny.

__Explanation__
The accumulted balance will not pass 10 million dollars until the 31st day.