This exercise illustrates just how fast exponential functions grow in the long term. Suppose you start work for a company at age 25. You are offered two rather unlikely retirement options. Retirement option 1: When you retire, you will receive $15,000 for each year of service.

Retirement option 2: When you start work, the company deposits $2500 into a savings account that pays a monthly rate of 1.3%. When you retire, the account will be closed and the balance given to you.

How much will you have under the second plan at age 55? (Round your answer to the nearest cent.)

$

How much will you have under the second plan at age 65? (Round your answer to the nearest cent.)

$

In a test for esp (extrasensory perception), the experimenter looks at cards that are hidden from the subject. each card contains either a star, a circle, a wave, a cross or a square.(five shapes) as the experimenter looks at each of 20 cards in turn, the subject names the shape on the card. when the esp study described above discovers a subject whose performance appears to be better than guessing, the study continues at greater length. the experimenter looks at many cards bearing one of five shapes (star, square, circle, wave, and cross) in an order determined by random numbers. the subject cannot see the experimenter as he looks at each card in turn, in order to avoid any possible nonverbal clues. the answers of a subject who does not have esp should be independent observations, each with probability 1/5 of success. we record 1000 attempts. which of the following assumptions must be met in order to solve this problem? it's reasonable to assume normality 0.8(1000), 0.2(1000)%30 approximately normal 0.8(1000), 0.2(1000)% 10 approximately normal srs it is reasonable to assume the total number of cards is over 10,000 it is reasonable to assume the total number of cards is over 1000