Eddie's account can be modelled as a linear function.
Ely's account can be modelled as an exponential function.
Ely's account would be higher than Eddie's account by $207.98.
A linear function is a function that has one variable that is raised to the power of 1. An example is 5x + 2.
Eddie's account can be modelled as a linear function because it increases by $240 every year. The linear function is $3000 + $240x. Where x is the number of years.
An exponential function is a function that is in the form y = [tex]a^{x}[/tex].
Ely's account can be modelled as an exponential function because it increases by [tex]1.08^{x}[/tex]. The exponential function is $3000 x [tex]1.08^{x}[/tex]. Where x is the number of years.
Value of Eddie's account in 5 years = $3000 + $240(5) = $4,200
Value of Ely's account in 5 years = $3000 x [tex]1.08^{5}[/tex] = $4,407.98.
Difference = $4,407.98 - $4,200 = $207.98
To learn more about linear functions, please check: https://brainly.com/question/19462599
The table is an illustration of a linear and an exponential function.
From the table, we can see that Eddie's balance increase by 240 each month.
This represents a linear function.
Also, we can see that Ely's balance increases at a rate of 8% each month.
This represents an exponential function.
So, we have:
[tex]y = 3000 + 240x[/tex] -- Eddie's account
[tex]y = 3000(1.08)^x[/tex] --- Ely's account
In (a), we have:
[tex]y = 3000 + 240x[/tex] -- Eddie's account
[tex]y = 3000(1.08)^x[/tex] --- Ely's account
So, their balance in 5 years is:
[tex]y =3000 + 240*5[/tex]
[tex]y =4200[/tex]
[tex]y = 3000(1.08)^5[/tex]
[tex]y = 4408[/tex]
Calculate the difference (d)
[tex]d = 4408 - 4200[/tex]
[tex]d = 208[/tex]
Hence, Ely's balance would be $208 greater than Eddie's
Read more about linear and exponential functions at:
https://brainly.com/question/4119613
