Which would you choose?
You are given an option of being paid either
How much would you receive on the 30th day?
The double of an amount is the same as multiplying an amount by two. So, the daily amounts in cents for each day would be:
Day 1 1¢
Day 2 2¢
Day 3 2 × 2 = 4¢
Day 4 2 × 2 × 2 = 8¢
Day 5 2 × 2 × 2 × 2 = 16¢
Day 6 2 × 2 × 2 × 2 × 2 = 32¢
Day 7 2 × 2 × 2 × 2 × 2 × 2 = 64¢
This is getting to be a lot of multiplications to write. We use exponents to write the problem for each day in a shorter form. Since Day 7 has two used as a factor six times, we may write the problem as
Day 7 26 = 2 × 2 × 2 × 2 × 2 × 2 = 64¢
Then Day 8 would use another factor of 2 for
Day 8 27 = 2 × 2 × 2 × 2 × 2 × 2 × 2 = 128¢
Day 9 28 = 2 × 2 × 2 × 2 × 2 × 2 × 2 × 2 = 256¢
Day 10 29 = 2 × 2 × 2 × 2 × 2 × 2 × 2 × 2 × 2 = 512¢
We note that the number of two's used as a factor is one less than the number of the day, so
Day 30 229.
This says that we would need to multiply 29 two's to find the amount of money in cents for the thirtieth day. Determine this amount then decide which choice would be the best choice.
The above problem motivates why exponents are used as a shortcut to setup problems. We now give more examples involving exponents.