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Valentin [98]
3 years ago
11

Leo is looking at two different savings plans. The first plan requires an initial deposit of $500 and grows at an annual interes

t 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?
Mathematics
2 answers:
aksik [14]3 years ago
8 0

Answer:

3rd Option and 4th Option

Step-by-step explanation:

Note: The options to the question is attached as picture below

<u>1st case</u>

Initial deposit (P) = 500

Annual interest rare (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)× ----- 3rd option

<u>2nd case</u>

Initial deposit (P) = 400

Annual interest rare (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)× ---- 4th option

Bogdan [553]3 years ago
6 0

Answer: 3rd and 6th option.

Step-by-step explanation:

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