Answer: On the 20th day, he will give $5242.88
Step-by-step explanation: This is a geometric series with elements:
initial value ([tex]a_{0}[/tex]) = 0.01
ratio = 2
At the twentieth day means the 20th term, i.e. n = 20.
To determine that term, use the formula: [tex]a_{n} = a_{0}.r^{n-1}[/tex]
Substituing terms:
[tex]a_{20} = 0.01.2^{20-1}[/tex]
[tex]a_{20} = 0.01.2^{19}[/tex]
[tex]a_{20} = 0.01.524288[/tex]
[tex]a_{20} = 5242.88[/tex]
Then, on the 20th day, your uncle gave to you $5242.88
