Task a: exploring exponential models
suppose you received a gift of $10,000 and want to invest it. you visit two banks to see what
they have to offer. bank a is near your home and pays 5% interest compounded annually.
bank b is farther from your home and pays 6% interest compounded annually. you do not
think a 1% difference in rates is that significant, but you want to check.
calculate the amount of interest each plan will earn after one year. record your
answers on the lines provided.
10.000
bank b:
bank a: