Fire Ant mounds are rising in my yard: if a mound can have only one queen, and she lays $50$ viable eggs per day, and if $2\%$ of the population dies per day, what is the limit of population growth? Obviously, when the death rate equals $50$ per day, no further growth can occur. My solution attempt:
- population on day 1: $0.98*50$
- population on day 2: $0.98*50 + 0.98^2*50$ $\quad$ (new hatchlings + survivors from day 1)
- population on day 3: $0.98*50 + 0.98^3*50 + 0.98^2*50$
- Generalizing: $P = \sum_{t=1}^{?} 0.98^t*50$