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Geometric series

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I got a answer but it didn't make sense here is my question again.
A farmer is going to grant a sales man a reward for good work.
So, the salesman said, "If you insist, I do not want much. Get your checkerboard and place one penny on the first square. Then place two pennies on the next square. Then place four pennies on the third square. Continue this until all 64 squares are covered with pennies." As he'd been saving pennies for over 25 years, Mr. Brown did not consider this much of an award, but soon realized he made a miscalculation on the amount of money involved.

I NEED TO KNOW THE ANSWER TO EACH AND HOW YOU GOT THE ANSWER because I am not getting it....

1) How much money would Mr. Brown have to put on the 32nd square?
2) How much would the traveling salesman receive if the checkerboard only had 32 squares?
3 Calculate the amount of money necessary to fill the whole checkerboard (64 squares). How much money would the farmer need to give the salesman?

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Solution Summary

The classic question of filling a checkerboard with increasing number of pennies. full explanation is offered including the derivation of a sum of a geometric series.

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