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2022 MMATHS Individual p7 - percentages and dollars

Source:

October 1, 2023
algebraMMATHS

Problem Statement

Katherine makes Benj play a game called 5050 Cent. Benj starts with $0.50\$0.50, and every century thereafter has a 50%50\% chance of doubling his money and a 50%50\% chance of having his money reset to $0.50\$0.50. What is the expected value of the amount of money Benj will have, in dollars, after 5050 centuries?
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