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9 April, 11:06

2. Your grandparents give you two options to invest money for your future. The first option is to

put $10,000 into an account and add $2000 each year for 25 years (the initial $10,000 doesn't

count as a year). The second option is to put $3 into an account and double the amount in the

account each year for 14 years (the initial $3 doesn't count as a year). Which option would

result in a greater sum of money and by how much?

3. The population of a certain species of bacteria doubles every hour. Use the following

exponential population equation to determine the amount of time it would take a population of

1 bacteria to grow to 1024. = 0 (2) ^t

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  1. 9 April, 14:34
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    Answer

    Option 1 by $10,851.

    Step-by-step explanation:

    The second option is a geometric series with first term 3 and common ratio.

    2.

    Amount in the account after 14 years = 3 * (2^14) - 1) / (2 - 1)

    = $49.149

    The second option: the amount after 25 years will be 10,000 + 25 (2000)

    = 60,000.

    So the first option results in more money.

    It is 60,000 - 49,149 - $10851.
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