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10. Sarah invested $500 in a savings account that pays a yearly interest rate of 3%. a) Complete the table showing the balance in Sarah's
10. Sarah invested $500 in a savings account that pays a yearly interest rate of 3%. a) Complete the table showing the balance in Sarah's savings account each year for the next 10 years. Number of Balance in Balance in Balance in years Sarah's Josh's Anthony's saving saving saving account account account 0 $500 $1000 S1000 1 2 3 4 5 6 7 8 9 10 b) Sarah's friend Josh invested $1000 in a savings account that also pays a yearly interest rate of 3%. Complete the column showing Josh's balance each year for 10 years. c) Find the growth factor for Sarah's savings account and write an equation for the balance S of her savings account after t years. Find the growth factor for Josh's savings account and write an equation for the balance J of Josh's savings after t years. d) Using your equations, find the balance S in Sarah's account after 30 years and the balance J of Josh's account after 30 years. e) When will the balance in Sarah's account have grown to twice as much as the initial investment? When will the balance of Josh's account have grown to twice as much as the initial investment? Show work. f) Sarah's friend Anthony invested $1000 in savings account that pays a yearly interest rate of 2%. Complete the table showing the balance in Anthony's savings account each year for the next 10 years. g) Find the growth factor for Anthony's account and write an equation for the balance A of Anthony's account after t years. How will the balance in Anthony's account compare to the balance in Sarah's and Josh's accounts after 30 years
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