PLS HELP QUICK PLS PLS 13 POINTS
A bank offers two different investment options.

Option 1 pays simple interest of 3% per year, meaning that each year, the balance increases by 3% of the initial deposit.

Option 2 pays compound interest of 2.4% compounded monthly, meaning that each month, the balance increases by 1/12 of 2.4% of the previous month's balance.

Which type of function can be used to model each option?

A:Option 1 is linear because 3% is added to the balance each year.

Option 2 is linear because 0.2% is added to the balance each month.

B:Option 1 is linear because 3% of the initial investment is added to the balance each year.

Option 2 is exponential because the balance is multiplied by 100.2% each month

C:Option 1 is exponential because the balance is multiplied by 103% each year.

Option 2 is exponential because the balance is multiplied by 100.2% each month

D:Option 1 is exponential because the balance is multiplied by 103% each year.

Option 2 is linear because 0.2% is added to the balance each month.

C  Option 1 is linear because 3% of the initial investment is added to the balance each year.

Option 2 is exponential because the balance is multiplied by 100.2% each month.

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step-by-step explanation:

let's cover over the formula of the vertex:

y = a(x – h)^2 + k

in this formula, (h,k) are the vertex, always remember that the positive or negative value of the vertex is based on the sign it has.

for example, if the vertex is -3,-6 then both the x and y value would have the positive sign attached to it and if it were a positive x and y value, then a negative sign would be attached to it.

with that being said, for our problem the x value is a positive one so we are looking for a number with a negative sign next to it, in this case the first and second choice.

however, for the first answer choice it isn't quite part of the formula so we know that the answer choice correctly displays the x value.

to confirm, we can see if the -1 fits correctly with the second answer choice, and as mentioned above a negative number will have a positive sign attached to it. so, for our problem we can see that -1 has been changed to +1, so we can confirm that the second answer choice is correct.

hence, our final answer is y=(x - 1)^2 + 1