I knew 2 to the 10th is roughly a thousand, so 2 to the 20th is about a million, then multiply by the starting $1,000 and you land near a billion.
Recognize that $1,000 doubling every year for 20 years is $1,000 * 2^20. Use the approximation 2^10 ≈ 10^3 to compute 2^20 ≈ 10^6, then multiply by $1,000 to get roughly $1 billion. Walk through the mental math step-by-step, explaining the approximation and its accuracy.
Pro tip: Mention that 2^10 is actually 1,024, so 2^20 is about 1.05 million, making the final answer about $1.05 billion. This shows precision and awareness of the approximation error, which is valuable in ML where small differences can matter.
State that the amount after n years is $1,000 * 2^n, so after 20 years it's $1,000 * 2^20.
Rewrite 2^20 as (2^10)^2 to use the known approximation that 2^10 ≈ 10^3.
Compute (10^3)^2 = 10^6, so 2^20 ≈ 10^6. Then multiply by $1,000 to get $1,000 * 10^6 = $1 billion.
Note that 2^10 = 1,024, so 2^20 = 1,024^2 = 1,048,576. Thus the exact amount is $1,048,576,000, which is about $1.05 billion.
Verify that the answer is reasonable: doubling 20 times from 1,000 gives a billion, which is plausible. Conclude with the approximate answer.
AI-generated suggestions, not part of the candidate's original notes. May be inaccurate — verify before relying on them.