Jerry plans to begin saving money for a trip by putting $1 in a savings account the first month and then adding enough to double the amount in the account each following month.
a. after he finishes contributing to the account, he will withdraw $500 to make a down payment on the trip. create a function to show how much money will be in the account if he finishes contributing to the account after t months.
b. jerry plans to keep up this saving pattern until he can no longer afford it. at that time, he hopes to have enough in his account for his trip. how much will be in the account, after making the down payment, if the most he will be able to contribute in a month is $1,200?
c. jerry’s friend brandon is planning to start saving for a trip at the same time as jerry. the graph shows the balance in brandon’s account over the first few months of saving. whose account will have the greatest balance after the first five months of savings, brandon’s or jerry’s?
d. how long will it take for the person with the smaller account balance after five months to have a greater balance? type your response here:
e. brandon will also need to withdraw $500 to make a down payment on the trip. how much will be in brandon’s account, after making the down payment, if he contributes for the same amount of time as jerry? (review your calculation in part b to determine how long jerry continued his savings plan.)