Solve the Problem. -Ms. Patterson Proposes to Give Her Daughter Claire an Allowance

question 11

Multiple Choice

Solve the problem.
-Ms. Patterson proposes to give her daughter Claire an allowance of $0.10 on the first day of her 12-day vacation, $0.20 on the second day, $0.40 on the third day, and so on. Find the allowance Claire would receive on the last day of her vacation.

• A)$2048.10
• B)$409.60
• C)$1.20
• D)$204.80

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Definitions:

Shareholder

An individual or entity that owns shares in a corporation, making them a part owner of the company.

Finance

The study and management of money, investments, and other financial instruments, including the processes of raising, allocating, and utilizing funds by individuals, businesses, and governments.

Historically

Referring to events, conditions, or patterns that have occurred in the past.

Securities

Securities are financial instruments that represent an ownership position in a publicly-traded corporation (stock), a creditor relationship with a government or corporation (bond), or rights to ownership as represented by an option.