SOLUTION: James has $200 in a safe. Each month, he adds another $25 to the safe. Miguel opens a savings account with a $200 deposit and earns 10% interest each month on the total amount of m

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: James has $200 in a safe. Each month, he adds another $25 to the safe. Miguel opens a savings account with a $200 deposit and earns 10% interest each month on the total amount of m      Log On


   

Question 823244: James has $200 in a safe. Each month, he adds another $25 to the safe. Miguel opens a savings account with a $200 deposit and earns 10% interest each month on the total amount of money in the bank.
a) How much money will they have each saved after 4 months? Make sure to justify your answer with a table, graph, equation, or another mathematical model.
b) Who will be saving the most money over time? Justify your answer!
c) Explain whether each function is linear or non-linear. If you determine a function to be linear, write the function rule.
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Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!

200 200 1
225 240 2
250 288 3
275 345.60 4
300 414.72 5