MAT 144 Topic 5 Discussions GCU
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MAT 144 Topic 5 DQ 1
Select one of the
options below and create a linear equation to represent the monthly bill. When
will the plans cost the same? Explain when each plan is a better option.
Option 1: Plan A
$39.99 for 200 min and $1.25 for each min after. Plan B $29.99 for 200 min and
$1.50 for each min after.
Option 2: Plan A
$25.75 plus $.75 per min. Plan B $20.99 plus $1.00 per min
Option 3: Plan A
$39.99 plus $1.25 per min. Plan B $25.99 plus $1.75 per min
Option 4: Plan A
$45.99 for 400 min and $.50 for each min after. Plan B $49.99 for 400 min and
$.40 for each min after
MAT 144 Topic 5 DQ 2
In Chapter 1 of the
text we looked at calculating a monthly payment for a loan. A related
formula is to calculate the amount accruing when regular payments are made into
an interest bearing account – often called the Savings Plan formula.
(A is the
accrued amount after t years of making regular payments, PMT,
into an account at interest rate, r%, compounded n times
each year.)
A(t) = PMT·((1 +
r/N)N·t – 1)/(r/N)
= PMT*((1 +
r/N)^(N*t) – 1)/(r/N)
The second version is
essentially in the form used in Excel
Suppose you want to
buy a car and have decided that you can save $100 a month. Using
information from an internet source, determine the current interest rate on
savings accounts and use the information to answer the following:
1.
How much money will
you have saved in a year’s time?
2.
How much will be
interest?
3.
Why wouldn’t a linear
model work here?
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