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Such a Deal!

Math brain teasers require computations to solve.

 

Puzzle ID:#360
Fun:*** (2.33)
Difficulty:** (1.99)
Category:Math
Submitted By:Phyllis*****!
Corrected By:MarcM1098

 

 

 



A man received an ad in the mail that promised to double his money. For every dollar he sent in, the ad guaranteed to return double his money minus a $24 service charge. He thought that was a pretty good deal, so he sent in his money. In the return mail he received double his money less the $24 service charge. He returned the money he had made and again it was doubled less the service charge. But, when he sent in the money a third time, he was charged the $24 service fee, but received no money back. How much money did the man lose?

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Hint

Work backwards.
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