In Mathematical Studies on Thursday we started our new unit on Series, Sequences and Financial Markets after completing our end of year mock exams.
We used the scenario of receiving pocket money or allowance from our parents. We were given the option of choosing to receive £400 a fortnight or half a pence on the first fortnight, then double that every fortnight.
We utilised Google Sheets to calculate which of the choices would result in the most allowance at the end of the year.
We all predicted that the £400 option would result in the most amount of money. After the calculations we found that the £400 option would give £10,400 by the end of year while receiving half a pence one the first fortnight, then double that every fortnight resulted in £335,544.
All of us will be rethinking our allowance plans now. Hah!