3.

You need to invest $1000 in a bank account and are give two options. The first option is to earn $50 every month you leave the m

garri49 [273]

Answer:

<h3><u>Option 1</u></h3>

Earn $50 every month.

Let x = number of months the money is left in the account
Let y = the amount in the account
Initial amount = $1,000

$\implies y = 50x + 1000$

This is a <u>linear function</u>.

<h3><u>Option 2</u></h3>

Earn 3% interest each month.

(Assuming the interest earned each month is <u>compounding interest</u>.)

Let x = number of months the money is left in the account
Let y = the amount in the account
Initial amount = $1,000

$\implies y = 1000(1.03)^x$

This is an <u>exponential function</u>.

<h3><u>Table of values</u></h3>

<u />

$\large \begin{array}{| c | l | l |}\cline{1-3} & \multicolumn{2}{|c|}{\sf Account\:Balance} \\ \cline{1-3} & \sf Option\:1 & \sf Option\:2 \\\sf Month & \sf \$50\:per\:mth & \sf 3\%\:per\:mth \\\cline{1-3} 0 & \$1000 & \$1000 \\\cline{1-3} 1 & \$1050 & \$1030 \\\cline{1-3} 2 & \$1100 & \$1060.90 \\\cline{1-3} 3 & \$1150 & \$1092.73 \\\cline{1-3} 4 & \$1200 & \$1125.51 \\\cline{1-3} 5 & \$1250 & \$1159.27 \\\cline{1-3} 6 & \$1300 & \$1194.05 \\\cline{1-3} 7 & \$1350 & \$1229.87 \\\cline{1-3}\end{array}$

From the table of values, it appears that <u>Account Option 1</u> is the best choice, as the accumulative growth of this account is higher than the other account option.

However, there will be a point in time when Account Option 2 starts accruing more than Account Option 2 each month. To find this, graph the two functions and find the <u>point of intersection</u>.

From the attached graph, Account Option 1 accrues more until month 32. From month 33, Account Option 2 accrues more in the account.

<h3><u>Conclusion</u></h3>

If the money is going to be invested for less than 33 months then Account Option 1 is the better choice. However, if the money is going to be invested for 33 months or more, then Account Option 2 is the better choice.

3 0

1 year ago

Line m has a slope of -3. Another line n is parallel to line m. What is the slop of line n?

mina [271]

Answer:

I think its also -3

because its parallel

7 0

3 years ago

Please find answer a row for answer on top

mariarad [96]

Deposit = $75 = 30%

(30/100)x = 75
(3/10)x = 75
0.3x = 75
x = 75/0.3
x = 250
Total cost = $250
deposit = $ 75
Total - deposit = $175
Thus, Marc owe $175 for the rug.

6 0

3 years ago

Omar is born weighing 8 pounds 3 ounces. The doctors says he should gain about 5 ounces each week for the next 4 weeks.How much

galben [10]

5 ounces for 4 weeks is 20 ounces.
There are 16 ounces in a pound so 20 ounces is 1 pound and 4 ounces.
8 lbs 3 oz plus 1 lb 4 oz is 9 lbs 7 oz.
After 4 weeks, he should weigh 9 lbs 7 oz

4 0

3 years ago

Perform the following divisions. Be sure all answers are reduced to lowest terms. 5/8 ÷ 2/5 =

UkoKoshka [18]

Here we're dividing a fraction (5/8) by another fraction. We could obtain the same result by inverting the divisor (2/5) and then multiplying (5/8) by (5/2).

The product is 25/16.

Thus, 2/5 divides into 5/8 25/16 times, or 1 9/16 times.

7 0

3 years ago