Answer:
Step-by-step explanation:
Part 1:
1. What is being asked in the problem and what does that mean?
Oliver is meaning to save more money than Lilliana
2.What do you know and what does it mean? What plan are you going to try?
It means that Oliver is trying to be reponsible and save money for a nice house. Use an equalizer and solve it.
3. Write out your thinking and work.
Since Olivier saves 150 per month, we multiply that with the number of years and then subtract the $75 he already saved up (since we only need to calculate the amount that he saved over the months.
2 yr of months: 150x30 -75 = 4480
10 yr of months: 150x180 - 75 = 21,993
4. Write out your response to the question, explaining your answer and what it means.
2 months of years: $4480
10 months of years: $21993
Part 2:
1. What is being asked in the problem and what does that mean?
Liliana needs to save money and we are asked to help her.
2.What do you know and what does it mean? What plan are you going to try?
It means that we have to use an equalizer to give to her so she can save the money over the years.
3. Write out your thinking and work.
Use formulaic methods. Since she has interest on her money, we have to include it:
i = log(x-4*7)^k
i is the interested amount, x is the variable we use, and k is the number of times. 7 is the interest
i = log(4000-4*7)^2 for 4000 at 7% interest over 2 years
i = log(4000-4*7)^10 for 4000 at 7% interest over 10 years
4. Write out your response to the question, explaining your answer and what it means.
Amount after 2 years: $30,000
Amount after 10 years: $15,671
Part 3:
1. What is being asked in the problem and what does that mean?
How we can help Ella save for her college.
2.What do you know and what does it mean? What plan are you going to try?
We can try using formulaic methods like we did for Dan in the previous assignment.
3. Write out your thinking and work.
l = (a/b)^q where l is the amount saved, a is the initial amount of dollars, b, is the time, and q is the interest
2 years: (4500/2)^4.5 = 2,500
10 years: (4500/10)^4.5 = 40,650
4. Write out your response to the question, explaining your answer and what it means.
After 2 years: $2500
After 10 years: $40,650
Ella would be able to afford college (if she does community college, but not a private university).
