Algebra I.5.B.8 - Modeling a Context from a Verbal Description – Exit Ticket

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1 question

Jerry and Carlos each have $1,000 and are trying to increase their savings. Jerry will keep his money at home and add $50 per month from his part-time job. Carlos will put his money in a bank account that earns a 4% yearly interest rate, compounded monthly. Who has a better plan for increasing his savings?

From EngageNY.org of the New York State Education Department. Grade Algebra i Mathematics Module 5, Topic B, Lesson 8. Internet. Available from https://www.engageny.org/resource/algebra-i-module...; accessed 09/Oct/2015.