If your employer asked you to select one of these options: option 1: your salary for the next two months will be $5,000. option 2: 1 penny for the first day; then, he will double your salary every day for the next two months. which would you pick and how much will your salary be at the end of the first month?

Option 2 is the best: 2^0 = 1

Pay after 1 month (Assuming the month has 30 days):

2^29/100 = $5,368,709.12

$5,368,709.12 definitely beats $5000 for the first month.

You pick the second option.

Your salary at the end of the first month will be $10,737,418.23

Step-by-step explanation:

Option 1:

$5000 for the next two months.

Option 2:

A geometric sequence, with common ratio r = 2.

The common ratio of a geometric sequence is the division of the term by the term .

Here, the geometric sequence is {0.01, 0.02, 0.04,....}, since a penny is 1 cent.

The sum of the first n terms of a geometric sequence is given by the following formula:

In which is the first term, so .

For the next two months, so 60 days.

This is higher than $5,000, so you pick the second option.

How much will your salary be at the end of the first month?

Your salary at the end of the first month will be $10,737,418.23

according to this law, when unemployment goes up by 1%, gdp drops by 2%. in the question, unemployment rate goes from 2% to 5%, meaning unemployment goes up by 3%, so the gdp drops by 6%. thus the effect is a drop in gdp by 6%.

step-by-step explanation: