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please only do C Comparing Investments Two students are saving money for a graduation trip to Europe in several years. George has just sold his
please only do C
Comparing Investments Two students are saving money for a graduation trip to Europe in several years. George has just sold his car for $5000 and has invested his money in a fund at an interest rate of 5.4% per year, compounded monthly. At the same time, John has invested his part-time job savings of $4500 in another fund at an interest rate of 6.8% per year, compounded quarterly. Show the following steps on the blackboard or paper as your instructor directs. a. Using the compound interest formula (see page 268), find an exponential growth model for the money belonging to each student. Start by filling in the following table to specify the parameters P,r, and n for each investment. Then find the exponential model for each investment, approximating the base to 4 decimal places. George John P= P= ra ra n = n = Ag(t) = Ai(t)= b. i) Calculate the future value of each investment after 4 years. ii) Using DESMOS, sketch both exponential growth curves on the practical domain on the same Cartesian Plane. From the graph, find the value of each investment after 4 years and the time for the investments to be equal in value. Consider a similar scenario to the tutorial 9 worksheet. Suppose John decides to spend $2000 of his job savings in an investment in a friend's blue-tooth moose project (a hunting locator and beer finding app) and instead only invests $2500 towards his graduation trip. (Assuming the same interest rate and compounding) If both George and John's investments are left in place, in how many years will both investments to be approximately equal in value? Solve this problem by setting their investment functions equal to each other and then take the natural log of both sides to solve for timet Solve for an exact answer in terms of base e and then round your answer to the nearest year. Be sure to preserve as many decimal places as possible in your calculation. The investments will be nearly equal after yearsStep by Step Solution
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