Question

Elisa puts $1,000 into each of 2 bank accounts. Account A: 3% interest rate, compounded annually, which is ✔ exponential growth Account B: $40 bonus added to the account each year, which is ✔ linear growth How much money will be in Account A at the end of 3 years? $ How much money will be in Account B at the end of 3 years? $

Answer 1

Answer:

Account A: 1,092.73

Account B: 1,120

Step-by-step explanation:

After 3 years, account B will yield more. But, in the long run the exponential function, which is account A, will make more money. I hope this helps :)