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Mathematics, 25.04.2021 23:20 kimberlylove387
PLEASE HELP QUICKLY!!! 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 = $47,500.00, B = $65,536.00; B, because he receives $18,036.00 more
A = $48,221.06, B = $17.00; A, because he receives $48,204.06 more
A = $48,221.06, B = $65,536.00; B, because he receives $17,314.94 more
A = $47,500.00, B = $34,952.53; A, because he receives $12,547.47 more
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PLEASE HELP QUICKLY!!! A student's parents offer him one of two options to receive scholarship money...
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