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30 April, 01:45

Cheyanne plans to put $150 into a savings account. She can place her money into an account represented by f (x) = 5x+150, or into another account represented by g (x) = 150 (1.03) ^x. Which of thses accounts has the highest value in 3 years and the highest value in 10 years?

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  1. 30 April, 02:09
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    In order to calculate the amount, we simply substitute the number of years into x in both equations.

    After 3 years:

    f (3) = 5 (3) + 150

    = $165

    g (3) = 150 * 1.03 (³)

    = $163.90

    After 10 years:

    f (10) = 5 (10) + 150

    = $200

    g (10) = 150 * 1.03 (¹⁰)

    = $201.59

    After three years, the first account has more money but after ten years, the second account has more money.
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