Question

An online marathon fund raiser continues as long as donations keep coming in. The first hour costs $1.00, and then the cost per hour goes up by 4% every hour. Suppose the fundraiser lasts for 121 hours.

A) How much will be raised in the last hour? Enter your answer rounded to two decimal places.

B)How much will be raised in total? Enter your answer rounded to two decimal places.

Answer 1

Hour	Cost per Hour	Raise @ 4%( cost *4%)	Total cost per Hour
1	$1		$1
2	$1	$0.04	$1.04
3	$1.04	$0.04160	$1.08
4	$1.08	$0.04326	$1.12
5	$1.12	$0.04499	$1.17
6	$1.17	$0.04679	$1.22
7	$1.22	$0.04867	$1.27
8	$1.27	$0.05061	$1.32
9	$1.32	$0.05264	$1.37
10	$1.37	$0.05474	$1.42
11	$1.42	$0.05693	$1.48
12	$1.48	$0.05921	$1.54
13	$1.54	$0.06158	$1.60
14	$1.60	$0.06404	$1.67
15	$1.67	$0.06660	$1.73
16	$1.73	$0.06927	$1.80
17	$1.80	$0.07204	$1.87
18	$1.87	$0.07492	$1.95
19	$1.95	$0.07792	$2.03
20	$2.03	$0.08103	$2.11
21	$2.11	$0.08427	$2.19
22	$2.19	$0.08764	$2.28
23	$2.28	$0.09115	$2.37
24	$2.37	$0.09480	$2.46
25	$2.46	$0.09859	$2.56
26	$2.56	$0.10253	$2.67
27	$2.67	$0.10663	$2.77
28	$2.77	$0.11090	$2.88
29	$2.88	$0.11533	$3.00
30	$3.00	$0.11995	$3.12
31	$3.12	$0.12475	$3.24
32	$3.24	$0.12974	$3.37
33	$3.37	$0.13493	$3.51
34	$3.51	$0.14032	$3.65
35	$3.65	$0.14594	$3.79
36	$3.79	$0.15177	$3.95
37	$3.95	$0.15784	$4.10
38	$4.10	$0.16416	$4.27
39	$4.27	$0.17072	$4.44
40	$4.44	$0.17755	$4.62
41	$4.62	$0.18465	$4.80
42	$4.80	$0.19204	$4.99
43	$4.99	$0.19972	$5.19
44	$5.19	$0.20771	$5.40
45	$5.40	$0.21602	$5.62
46	$5.62	$0.22466	$5.84
47	$5.84	$0.23365	$6.07
48	$6.07	$0.24299	$6.32
49	$6.32	$0.25271	$6.57
50	$6.57	$0.26282	$6.83
51	$6.83	$0.27333	$7.11
52	$7.11	$0.28427	$7.39
53	$7.39	$0.29564	$7.69
54	$7.69	$0.30746	$7.99
55	$7.99	$0.31976	$8.31
56	$8.31	$0.33255	$8.65
57	$8.65	$0.34585	$8.99
58	$8.99	$0.35969	$9.35
59	$9.35	$0.37408	$9.73
60	$9.73	$0.38904	$10.12
61	$10.12	$0.40460	$10.52
62	$10.52	$0.42079	$10.94
63	$10.94	$0.43762	$11.38
64	$11.38	$0.45512	$11.83
65	$11.83	$0.47333	$12.31
66	$12.31	$0.49226	$12.80
67	$12.80	$0.51195	$13.31
68	$13.31	$0.53243	$13.84
69	$13.84	$0.55372	$14.40
70	$14.40	$0.57587	$14.97
71	$14.97	$0.59891	$15.57
72	$15.57	$0.62286	$16.19
73	$16.19	$0.64778	$16.84
74	$16.84	$0.67369	$17.52
75	$17.52	$0.70064	$18.22
76	$18.22	$0.72866	$18.95
77	$18.95	$0.75781	$19.70
78	$19.70	$0.78812	$20.49
79	$20.49	$0.81965	$21.31
80	$21.31	$0.85243	$22.16
81	$22.16	$0.88653	$23.05
82	$23.05	$0.92199	$23.97
83	$23.97	$0.95887	$24.93
84	$24.93	$0.99723	$25.93
85	$25.93	$1.03712	$26.97
86	$26.97	$1.07860	$28.04
87	$28.04	$1.12174	$29.17
88	$29.17	$1.16661	$30.33
89	$30.33	$1.21328	$31.55
90	$31.55	$1.26181	$32.81
91	$32.81	$1.31228	$34.12
92	$34.12	$1.36477	$35.48
93	$35.48	$1.41936	$36.90
94	$36.90	$1.47614	$38.38
95	$38.38	$1.53518	$39.91
96	$39.91	$1.59659	$41.51
97	$41.51	$1.66046	$43.17
98	$43.17	$1.72687	$44.90
99	$44.90	$1.79595	$46.69
100	$46.69	$1.86779	$48.56
101	$48.56	$1.94250	$50.50
102	$50.50	$2.02020	$52.53
103	$52.53	$2.10101	$54.63
104	$54.63	$2.18505	$56.81
105	$56.81	$2.27245	$59.08
106	$59.08	$2.36335	$61.45
107	$61.45	$2.45788	$63.90
108	$63.90	$2.55619	$66.46
109	$66.46	$2.65844	$69.12
110	$69.12	$2.76478	$71.88
111	$71.88	$2.87537	$74.76
112	$74.76	$2.99039	$77.75
113	$77.75	$3.11000	$80.86
114	$80.86	$3.23440	$84.09
115	$84.09	$3.36378	$87.46
116	$87.46	$3.49833	$90.96
117	$90.96	$3.63826	$94.59
118	$94.59	$3.78379	$98.38
119	$98.38	$3.93514	$102.31
120	$102.31	$4.09255	$106.41
121	$106.41	$4.25625	$110.66
	Total		$2,852

a) The last hourly rate is $ 110.66

b) Total amount raised is $ 2852.