Hypothetically, which would you rather have? Formulas for both options, how you entered the values into...

Hypothetically, which would you rather have? Formulas for both options, how you entered the values into Excel to create column functions if that is easier for you. • A graph to show the growth of both options (use either Excel or Desmos). • The total amounts after the time is up for both options and which you would rather have, option A or B. • A paragraph… what did you learn from this project?

Option A – For 30 days, I give you an amount of money to save. On day 1, I will give you $0.01. On day 2, I will double that and give you $0.02. You now have $0.03. On day 3, I will double the previous day and give you $0.04. You now have $0.07. This pattern will continue until 30 days have passed.

Option B – For 30 days, I will give you $10,000 to save. Each day I will increase the amount by 5%. So, on day 1 I give you $10,000 and at the end of the day I increase it by 5% to have a total of $10,000 + $500 = $10,500.

Expert Solution

So, I would prefer Option A

After Time is Up Total Amount of
Option A is 10737418.23
Option B is 664388.475

orchestra answered 2 years ago

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