Math Problem Statement

• James invested three dollars in the Junior Stock Market on day one. The money was doubled each day for seven days. Show on a table the value of the money that was doubled for each day and write each day’s amount in exponential form. • How much money did he save over the seven-day period?

Solution

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Math Problem Analysis

Mathematical Concepts

Exponential Growth
Arithmetic Summation

Formulas

Day's amount = Initial investment * 2^n where n is the day number
Total amount = Sum of the series (Initial investment * 2^n) for n from 0 to 6

Theorems

Exponential growth in sequences

Suitable Grade Level

Grades 5-7