Leifs rich uncle decided to give him $1.00 the first day of Christmas and to double the amount each

Leifs rich uncle decided to give him $1.00 the first day of Christmas and to double the amount each subsequent day. How much money (in dollars) does he recieve after all 12 days of Christmas?

Let's look at each day:

1. 1
2. 2
3. 4
4. 8
5. 16
6. 32
7. 64
8. 128
9. 256
10. 512
11. 1024
12. 2048

Total received:
1 + 2 + 4 + 8 + 16 + 32 + 64 + 128 + 256 + 512 + 1024 + 2048 = 4,095