Number of years 1 2 3

Option 1 (amount in dollars) 1100 1210 1331

Option 2 (amount in dollars) 1100 1200 1300

Part A: What type of function, linear or exponential, can be used to describe the value of the investment after a fixed number of years using option 1 and option 2? Explain your answer.

Part B: Write one function for each option to describe the value of the investment f(n), in dollars, after n years.

Part C: Belinda wants to invest in an option that would help to increase her investment value by the greatest amount in 20 years. Will there be any significant difference in the value of Belinda's investment after 20 years if she uses option 2 over option 1? Explain your answer, and show the investment value after 20 years for each option.

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1

samirahscott14.02.2022 04:30Answer and explanation:

Given: Belinda wants to invest $1,000. The table below shows the value of her investment under two different options for three different years:

Number of years 1 2 3

Option 1 (amount in dollars) 1100 1200 1300

Option 2 (amount in dollars) 1100 1210 1331

To find:

Part A: What type of function, linear or exponential, can be used to describe the value of the investment after a fixed number of years using option 1 and option 2?

Part B: Write one function for each option to describe the value of the investment f(n), in dollars, after n years.

Part C: Will there be any significant difference in the value of Belinda's investment after 20 years if she uses option 2 over option 1?

Solution:

Part A: Linear and exponential functions can be used to describe the value of the investment after a fixed number of years using option 1 and option 2, respectively.

Part B: (n=n+100) and (n=n+100x) are the functions for each option to describe the value of the investment f(n), in dollars, after n years.

Part C: Yes, there will be a significant difference of 1900 in the value of Belinda's investment after 20 years if she uses option 2 over option 1.

Part A:

In the case of option 1, the linear function can be used to describe the value of the investment after a fixed number of years. This is because, in option one, the amount increases by a fixed amount every year.

In the case of option 2, the exponential function can be used to describe the value of the investment after a fixed number of years. This is because, in option 2, the amount increase is higher than last year.

Part B:

For option 1, the function is

For option 2, the function is

Here, x is the increase in amount every consecutive year.

Part C:

After 20 years, the amount from option 1 would be 3000 and the amount from option 2 would be 4900. Thus, there is a difference between 1900.

Therefore,

Part A: Linear and exponential functions can be used to describe the value of the investment after a fixed number of years using option 1 and option 2, respectively.

Part B: (n=n+100) and (n=n+100x) are the functions for each option to describe the value of the investment f(n), in dollars, after n years.

Part C: Yes, there will be a significant difference of 1900 in the value of Belinda's investment after 20 years if she uses option 2 over option 1.

Hope this helps