Rachel and Jeffry decided to start saving for college. Rachel has $1,500 to start her savings account, and Jeffery has $1,200. Rachel's bank offered her an interest rate of 7.5% compounded annually. Jeffery decided to keep his money in a safe in his bedroom, and he adds $200 to his safe each year. Suppose that A represents the accumulated money in each one's savings fund and t represents the number of years. Choose the equations that form the system that best models this situation.

A) A = 200t + 1,200

B) A = 1,200 (1.2) ^t

C) A = 7.5t + 1,500

D) A = 1,500 (1.075) ^t

E) A = 1,200 (1.075) ^t

Question

Sheldon Graham

Mathematics

12 March, 16:25

Rachel and Jeffry decided to start saving for college. Rachel has $1,500 to start her savings account, and Jeffery has $1,200. Rachel's bank offered her an interest rate of 7.5% compounded annually. Jeffery decided to keep his money in a safe in his bedroom, and he adds $200 to his safe each year. Suppose that A represents the accumulated money in each one's savings fund and t represents the number of years. Choose the equations that form the system that best models this situation.

A) A = 200t + 1,200

B) A = 1,200 (1.2) ^t

C) A = 7.5t + 1,500

D) A = 1,500 (1.075) ^t

E) A = 1,200 (1.075) ^t

+3

Answers (1)

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Bo Decker · Answer 1

A and D. Jeffery adds $200 every year (t) to a constant of $1,200. Meanwhile you use the simple interest formula to find the correct expression for Rachel.