Larry and Peggy are making decisions on their bank accounts. Larry wants to put the original money in an account with a higher interest rate. Peggy wants to put more money in as a principle amount because the more you start with, the more interest you will gain. Explain which method will result in more money.

Question

anonymous · Answer

@Destinymasha this chapter was on exponential and logarithmic functions and I'm so bad at this ugh, do you have any idea?

destinymasha · Answer

;[

anonymous · Answer

that's ok! @Destinymasha do you know anyone who can help?

destinymasha · Answer

@tHe_FiZiCx99

the_fizicx99 · Answer

I've done exponential functions, just not log one's yet. But I'd go with peggy's idea.

the_fizicx99 · Answer

@mathmale can help you, he's a good tutor :>

anonymous · Answer

I was going to say Peggy's idea, too, I just need to explain why. But thank you :)

anonymous · Answer

@wio can you help out?

anonymous · Answer

@BangkokGarrett

anonymous · Answer

It depends.

anonymous · Answer

/: What does it depend on? What should I put?

anonymous · Answer

I'm sorry I've just been really stuck on this question for SO long

anonymous · Answer

Well, let $r$ be the interest rate.  Let $p$ be the principle...

anonymous · Answer

Increasing either will increase the amount of interest you earn.

However it's possible for a large increase in principle to make more money that a small increase in interest.  Likewise it is possible for a large increase in interest to make more money than a large increase in principle.

anonymous · Answer

You need specific numbers to compare.