Solution-Change in amount of money over the previous year

Change in amount of money over the previous year

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The amount of money in an account may increase due to rising stock prices and decrease due to falling stock prices. Maggie is studying the change in the amount of money in two accounts, A and B, over time.

The amount f(x), in dollars, in account A after x years is represented by the function below:

f(x) = 9,628(0.92)x

Part A: Is the amount of money in account A increasing or decreasing and by what percentage per year? Justify your answer.

Part B: The table below shows the amount g(r), in dollars, of money in account B after r years.

r (number of years) 1 2 3 4

g(r) (amount in dollars) 8,972 8,074.80 7,267.32 6,540.59

Which account recorded a greater percentage change in amount of money over the previous year? Justify your answer.

Reference no: EM131782371

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Change in amount of money over the previous year

Reference no: EM131782371

Reference no: EM131782371

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