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Math108x Document w09GroupAssignment

The document contains 5 scenarios analyzing whether rates of change are constant or variable. Scenario 1 involves regularly saving $10 each paycheck into a jar, which is determined to have a constant rate of change as the amount increases by the same amount each time. Scenario 2 examines interest earned from a savings account, deemed variable as the interest rate is 3.7% annually. Scenario 3 discusses weekly gas price increases of 2 cents, also constant. Scenarios 4 and 5 provide population data but lack clarity on the rates of change. Worksheets are included to calculate retirement savings and student loan balances.

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Ngeleka kalala
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97 views

Math108x Document w09GroupAssignment

The document contains 5 scenarios analyzing whether rates of change are constant or variable. Scenario 1 involves regularly saving $10 each paycheck into a jar, which is determined to have a constant rate of change as the amount increases by the same amount each time. Scenario 2 examines interest earned from a savings account, deemed variable as the interest rate is 3.7% annually. Scenario 3 discusses weekly gas price increases of 2 cents, also constant. Scenarios 4 and 5 provide population data but lack clarity on the rates of change. Worksheets are included to calculate retirement savings and student loan balances.

Uploaded by

Ngeleka kalala
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 10

Constant and Variable Scenario 1

Rates of Change
Yosef puts $10 from every paycheck into a jar in
his closet to save longterm. How has the cash
balance in the jar changed over time?

Constant/Variable/Not Enough Information?


For this part of the Group Assignment, you ANSWER: Constant
will simply be analyzing different scenarios
to determine if they have constant or Why? It increases the exact same
variable rates of change, or if there isn’t amount each time
enough information to tell. Then explain
why you answered like you did.

Please see your textbook if you have any Scenario 4


questions about the difference between
variable and constant rates of change.
African Elephant Numbers Plummet 30 Percent,
Landmark Survey Finds. How has the African
Elephant population changed over time?

Constant/Variable/Not Enough Information?


ANSWER: Not enough information

Why? There is no clarity


Scenario 1 Scenario 2

$10 from every paycheck into a jar in Carlos and Sofia earn 3.7% interest annually
o save longterm. How has the cash from their savings account. How has the balance
he jar changed over time? in their savings account changed over time?

Variable/Not Enough Information? Constant/Variable/Not Enough Information? Constant/Variable/Not Eno


Constant ANSWER: Variable ANSWER: Constant

increases the exact same Why? It has an interest rate of 3.7% Why? It increases the e
each time amount each time.

Scenario 4 Scenario 5

phant Numbers Plummet 30 Percent, The urban population of Bangkok Thailand grew
urvey Finds. How has the African from 7.8 million people to 9.6 million between
opulation changed over time? 2000 and 2010, a relatively modest annual
growth rate of 2.0%. It has the ninth largest
population in East Asia. How has the population
Variable/Not Enough Information? of urban Bangkok changed over time?
Not enough information
Constant/Variable/Not Enough Information?
ere is no clarity ANSWER: Variable

Why? It has an interest rate of 2.0%


Scenario 3

Every week all spring the price of gas has risen


by 2 cents. How has the price changed over
time?

Constant/Variable/Not Enough Information?


ANSWER: Constant

Why? It increases the exact same


amount each time.
Ali Bruno Evangeline
Monthly $500 $500 Loan $6,250
Interest 7% 7% Interest 4.50%
Years 11 30 Years 4
11 Years $98,994.85 Total $7,649.98
65 Years 803491.4803 $609,985.50
Scenario Questions
How much money does Alihave in his acc

Ali and Bruno were born the exact same day. Their $803,491.48
retirement accounts average 7% APR and compound How much money does Bruno have in his
monthly. 65?
Ali: When Ali graduated from college at age 24, he began $609,985.50
saving for retirement. He put $500 per month into a 401K Which one has more in their accounts?
account. After 11 years he stopped paying into the
account, but he left the money in the account where it Ali
earned interest for the next 30 years. Who deposited more money into their ac
Bruno
Bruno: After college Bruno worked hard but did not start
to save for retirement until he was 35 years old. He put
$500 per month into his 401K savings account for the next
30 years.
Work
Use the FUTURE VALUE (FV) function to answer the
h money does Alihave in his account at age 65? questions. If you have questions about the FV function,
refer to the textbook.
1.48
h money does Bruno have in his account at age Two hints:
1. Can one FV Function model how much money Ali will
have at age 65?
5.50 2. The ‘pv’ part of the FV Function is where you put in the
e has more in their accounts? amount originally deposited in an interest bearing
account, over and above the monthly amount.
osited more money into their account?
Scenario

Carolina and Evangeline are new freshmen. Each woman $6250


decided to get the maximum student loan for their first
semester, and neither of them take out any more student
loans for the rest of their eduction. Both loans have an APR
of 4.5% and were for $6250.
$7649.98
Carolina: Carolina's loan is a Subsidized Student Loan. This
means the federal government pays the interest on the
loan until 6 months after Carolina leaves school. This loan is
need-based.
Evangeline:Evangeline’s loan is an Unsubsidized Student
Loan. Interest begins to accrue as soon as the loan is taken
out. This loan in not need-based.
Questions Work
If Carolina graduates in 4 years how much money does she As needed, use the Future Value (FV
owe on her loan 6 months after graduation? what Carolina and Evangeline owe 6
graduation.
$6250

If Evangeline graduates in 4 years how much money does


she owe on her loan 6 months after graduation?
$7649.98
d, use the Future Value (FV) function to calculate
olina and Evangeline owe 6 months after
on.
Save this file and upload it to the W09 Group
Assignment Submission folder in I-Learn.

Then, as a group, answer the W09 Group Assignment


Quiz.

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