Suppose You Go to Work at a Company That Pays

question 3

Multiple Choice

Suppose you go to work at a company that pays $0.08 for the first day, $0.16 for the second day, $0.32 for the third day, and so on.If the daily wage keeps doubling, what would your
Total income be for working 29 days? Round your answer to two decimal places.

• A)$21,474,836.48
• B)$10,737,418.24
• C)$42,949,672.88
• D)$171,798,691.52
• E)$85,899,345.76

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Definitions:

Rate of Return

The achievement or shortfall in value of an investment during an established time, shown as a percentage of the investment’s original financial input.

Dividend

A portion of a company's earnings distributed to shareholders, typically in the form of cash or additional shares.

ROE

Return on Equity (ROE) is a financial ratio that measures a company's ability to generate profits from its shareholders' equity.

Dividend Growth Rate

The rate at which a company's dividend payments to shareholders increase over time.