4. You won a contest sponsored by a local radio station. If you chose the two payment plans listed below, which plan will pay you more? How much more? Be sure to show all evidence, including formulas used for calculations. A. $1 on the first day, $2 on the second day, $3 on the third day etc., for 4 weeks. B. $0.01 on the first day, $0.02 on the second day, $0.04 on the third day etc. For 4 weeks.

Please show how we calculate the compounded amounts.