John, Sally, and Natalie would all like to save some money. John decides that it

Question

would be best to save money in a jar in his closet every single month. He decides
to start with $300, and then save $100 each month. Sally has $6000 and decides
to put her money in the bank in an account that has a 7% interest rate that is
compounded annually. Natalie has $5000 and decides to put her money in the
bank in an account that has a 10% interest rate that is compounded continuously.
(1pt) What type of equation models John’s situation? _________________
(1pt) Write the model equation for John’s situation ___________________
(1pt) How much money will John have after 2 years? _________________
(1pt) How much money will John have after 10 years? ________________
(1pt) What type of exponential model is Sally’s situation? ______________
(2pt) Write the model equation for Sally’s situation ___________________
(1pt) How much money will Sally have after 2 years? _________________
(1pt) How much money will Sally have after 10 years? ________________
(1pt) What type of exponential model is Natalie’s situation? ____________
(2pt) Write the model equation for Natalie’s situation _________________
(1pt) How much money will Natalie have after 2 years? _______________
(1pt) How much money will Natalie have after 10 years? ______________
(2pts) Who will have the most money after 10 years?

***help please this is the correct one**

Answer 1

first, get out your formulas for annuities, simple, and compound interest. Then plug in your numbers.