Question

HELPPPPPPP!

I ONLY NEED HELP WITH PART B AND C




Belinda wants to invest $1000. The table below shows the value of her investment under two different options for two different years:



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.

Answer 1

This is the table

Answer 2

@mathmale can you please help me out?

Answer 3

Hello, G!
Take a look at Option #1. At the beginning of Year 1, you have $1300. At the end of Year 1, you have $1690. What was the multiplier that took you from $1300 to $1690?

Answer 4

The multiplier is 390 @mathmale

Answer 5

Take a look at Open #2. At the beginning of Year 1, you have $1300. At the end you have $1600. At the beginning of year 2, you have $1600 and at the end of that year you have $1900. so different formulas apply to these two different cases.

Answer 6

If we were to use 390 as the multiplier, in Option #1, then your initial $1300, when multiplied by 390, would result in $507,000. does that look right?

Answer 7

No @mathmale

Answer 8

Right, it's incorrect. The multiplier is much smaller than 390.

$1300 times what number gives us $1690?
that number is the 'multiplier' in question.

Hint: 1300m=1690. Solve for the multiplier, m.

Answer 9

I got 1.3 @mathmale

Answer 10

Good. So, if you multiply that initial $1300 by 1.3, you'll get $1690, and then if you multiply $1690 by 1.3, you'll get 2197. Thus, your multiplier IS 1.3.

You need to use this information to write a formula which will give you the amount of money you'd have at the end of n years. At the end of 0 years (beginning of the first year), you'd have $1300; at the end of 1 year, you'd have $1690, and at the end of 2 years, you'd have $2197. What would that formula look like? Hint: each year, you'd multiply the result of the previous year by 1.3.

You need to write a formula for Option #2 as well. Here you do NOT have a multiplier, but instead each year you add a fixed amount to the previous amount. Try coming up with such a formula.

I have to log off again, but will be back on OpenStudy later today.

Answer 11

Okay I have that part. I need help with part C @mathmale