equation

I started with 0.01 and the penalty doubled every day. What is the equation?

 

 .01 X(2^n - 1)=Penalty for n days. So, for 10 days, your penalty would be:

 .01 X(2^10 - 1)=$10.23. For 5 days: 1+2+4+8+16=31 X .01=.31 cents, or,

 .01 X(2^5 - 1)  =.31 cents.............etc.

I started with 0.01 and the penalty doubled every day. What is the equation?

 

The penalty on day one is   0.01

The penalty on day two is   0.01 * 2

The penalty on day three is   0.01 * 2*2*2 = 0.01*2^2 = 0.01*2^(3-1)

etc

The penalty on day  "d "is   0.01 * 2^(d-1)

 

P = 0.01 * 2^(d-1)

The first answer here gives the penalty for the nth day.

The second answer gives the total cumulative penalty from day 1 to the nth day.