Question

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 account has the highest value in 3 years? Which account has the highest value in 10 years?

f(x) has the highest value in 3 years; g(x) has the highest value in 10 years
g(x) has the highest value in 3 years; f(x) has the highest value in 10 years
f(x) has the highest value in 3 years; f(x) has the highest value in 10 years
g(x) has the highest value in 3 years; g(x) has the highest value in 10 years

Answer 1

(5×3)+150=165
150×(1.03)^(3)=163.91

(5×10)+150=200
150×(1.03)^(10)=201.59

f(x) has the highest value in 3 years; g(x) has the highest value in 10 years