The answer to the problem is -8.58.
Answer:
Step-by-step explanation:
Answer:
Option 2
Step-by-step explanation:
Let's say that Phalicia opens her savings account one year (12 months) before she goes to college.
With Option 1, she would have saved 300 + 50 * 11 = $850. We do 50 * 11 and not 50 * 12 because she deposits $50 for 11 months, not 12.
With Option 2, she would have saved 5 * 3¹¹ = $885735. Note that we do 3¹¹ and not 3¹² because 5 is being tripled 11 times.
Obviously, she should choose Option 2 because she saves A LOT more money.
Additionally, we can notice that Option 1 is an example of an arithmetic sequence whereas Option 2 is an example of a geometric sequence. Their explicit formulas would be aₙ = 50n + 250 and aₙ = 5 * 3⁽ⁿ⁻¹⁾ respectively.
