Question

If you save three pennies on January 1, six pennies on January 2, nine pennies on January 3, and continue this pattern for one year (not a leap year), what will be the value of your entire savings, in dollars, at the end of that one year? Express your answer as a decimal.

Answer 1

This is an arithmetic series with first term a1 = 3 and common difference = 3

Sum after 365 days = (365/2)[ 2*3 + (365-1)*3]

= 200,385 pennies = $2003.85 Answer