A student's parents offer him one of two options to receive scholarship money for college. Option A: Deposit $40,000.00 into his savings account and then add an additional $250.00 each day for 30 days or Option B: Deposit $1.00 into his savings account and then double that amount each day for only 16 days When rounded to the nearest cent, how much money is deposited into his savings account on the last day (day 30) for Option A, and how much is deposited into his savings account on the last day (day 16) for Option B? If the student keeps only what is deposited on the last day, which option should he choose? (7 points)
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
A student's parents offer him one of two options to receive scholarship money for college.
Option A: Deposit $40,000.00 into his savings account and then add an additional $250.00 each day for 30 days
or
Option B: Deposit $1.00 into his savings account and then double that amount each day for only 16 days
When rounded to the nearest cent, how much money is deposited into his savings account on the last day (day 30) for Option A, and how much is deposited into his savings account on the last day (day 16) for Option B? If the student keeps only what is deposited on the last day, which option should he choose? (7 points)
| Option A Versus Option B | |||
|---|---|---|---|
| Option A | Option B | ||
| Day | Amount Deposited | Day | Amount Deposited |
| 0 | $40,000.00 | 0 | $1.00 |
| 1 | $40,250.00 | 1 | $2.00 |
| 2 | $40,500.00 | 2 | $4.00 |
| A |
A = $47,500.00, B = $65,536.00; B, because he receives $18,036.00 more
|
| B |
A = $48,221.06, B = $17.00; A, because he receives $48,204.06 more
|
| C |
A = $48,221.06, B = $65,536.00; B, because he receives $17,314.94 more
|
| D |
A = $47,500.00, B = $34,952.53; A, because he receives $12,547.47 more
|
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