Question

Oliver, Lily, and Ella are hoping to save money. Oliver thinks saving money in a shoe box in his closet every month is a good idea. He decides to start with $150, and then save $75 each month. Lily was given $4000 from her Great Uncle Merv, and decides to put the money into an account that has a 7% interest rate that is compounded annually. Ella has earned $4500 working at the gas station and decides to put her money in the bank in an account that has a 7.5% interest rate that is compounded continuously. Part 1: Describe the type of equation that models Oliver’s situation. Create that equation of Oliver’s situation. Using the equation you created, how much
money will be in Oliver’s account after 2 years? 10 years?

1. What is being asked in the problem and what does that mean?
2.What do you know and what does it mean? What plan are you going to try?
3. Write out your thinking and work.
4. Write out your response to the question, explaining your answer and what it means.

Describe the type of equation that models Lily’s situation. Create that equation of Lily’s situation. Using the equation you created, how
much money will be in Lily’s account after 2 years? 10 years?

1. What is being asked in the problem and what does that mean?
2.What do you know and what does it mean? What plan are you going to try?
3. Write out your thinking and work.
4. Write out your response to the question, explaining your answer and what it means.

Describe the type of equation that models Ella’s situation. Create that equation of Ella’s situation. Using the equation you created, how
much money will be in Ella’s account after 2 years? 10 years?

1. What is being asked in the problem and what does that mean?
2.What do you know and what does it mean? What plan are you going to try?
3. Write out your thinking and work.
4. Write out your response to the question, explaining your answer and what it means.

This is for the algebra 2 portfolio, Algebra 2 B Unit 3 Lesson 7: Viruses and Viral Videos Portfolio

Answer 1

All in the pdf

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Answer 2

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).