A wealthy man decided to pledge ₱1,000,000.00 to a charity fund that aims to help orphans. He then thought of a strategy to invest 10% less than the pledged amount in the year that followed. On the third year, he invested 10% less than what he invested during the second year, and so on. He also planned to entrust this deed to his successor and hoped that his successor would also do the same. If this deed continued indefinitely, what is the total amount of donations the charity would have received?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Geometric Sequence
A wealthy man decided to pledge ₱1,000,000.00 to a charity fund that aims to help orphans. He then thought of a strategy to invest 10% less than the pledged amount in the year that followed. On the third year, he invested 10% less than what he invested during the second year, and so on. He also planned to entrust this deed to his successor and hoped that his successor would also do the same. If this deed continued indefinitely, what is the total amount of donations the charity would have received?
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