Problem In a fund raising show, a group of philanthropists agreed that the first one to arrive would pay 25¢ to enter, and each later would pay twice as much as the preceding person. The total amount collected from all of them was \$262,143.75. How many of them paid?
Answer Key
Solution
$262,143.75 = \dfrac{0.25(2^n - 1)}{2 - 1}$
$2^n = 1,048,576$
$n = 20$ ← answer
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