Question

PLS HELP Leo is looking at two different savings plans. The first plan requires an initial deposit of $500 and grows at an annual interest rate of 2.5%. The second plan requires an initial deposit of $400 and interest grows continuously at a rate of 2% per year. Leo wrote a system of equations to represent the account balance of either plan, y, after x years. Which two equations are part of the system?
OPTIONS ARE BELOW

Answer 1

Answer:

First and Second option choices

Step-by-step Explanation:

1st case:

Initial deposit (P) = 500

Annual interest rate (r) = 2.5%

Account balance after x years, y = P(1+r/100)×

y = 500(1+2.5/100)×

y = 500(1+0.025)×

y = 500(1.025)×

2nd case:

Initial deposit (P) = 400

Annual interest rate (r) = 2%

Account balance after x years, y = P(1+r/100)×

y = 400(1+2/100)×

y = 400(1+0.02)×

y = 400(1.02)×