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29 October, 03:50

Martin deposits $200 in a savings account that earns 5% annual interest. four years later, cary deposits $200 in an account earning the same interest. let m represent the balance in martin's account and let c represent the amount of money in cary's account. choose the pair of expressions that describe the accounts y years after martin opened his account. martin: 200 (1.05) y cary: 200 (1.05) y+4 martin: 200 (1.05) y+4 cary: 200 (1.05) y-4 martin: 200 (0.05) y cary: 200 (0.05) y-4 martin: 200 (1.05) y cary: 200 (1.05) y-4

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  1. 29 October, 03:51
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    Martin deposits $200 in a savings account that earns 5% annual interest.

    year interest balance

    1 200 * 5% 200 (1.05)

    2 200 (1.05) * 5% 200 (1.05) ^2

    3 200 (1.05) ^2*5% 200 (1.05) ^3

    y 200 (1.05) ^y

    => m = 200 (1.05) ^y

    four years later, cary deposits $200 in an account earning the same interest.

    year interest balance

    5 200 * 5% 200 (1.05)

    6 200 (1.05) * 5% 200 (1.05) ^2

    7 200 (1.05) ^2*5% 200 (1.05) ^3

    y 200 (1.05) ^ (y-4)

    => c = 200 (1.05) ^ (y-4)

    Answer:

    Martin: 200 (1.05) ^y

    Cary: 200 (1.05) ^ (y-4)
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