Algebra 1 Unit 5 – Day 3 Classwork

Name: __________________________________________ Period: ______

Target 5.3 – I can determine and interpret key features of linear and exponential functions.

The Rich Uncle Problem Today you are introduced to an Uncle of yours whom you have never met before. He has been saving money for you to go to college in two separate accounts. Here is the catch. From the two accounts you must pick the one that will give you the largest sum of money on your next birthday. You must make your decision in the next 10 minutes! If you are correct, you get that amount of money. If not, your Uncle simply smiles and walks away, never to be seen again. Chase Bank Account – Your Uncle deposited $1000 on the day you were born and another $1000 on each of your birthdays after that. PNC Bank Account – Your Uncle deposited $1 on the day you were born and has doubled the amount in the account on each of your birthdays. So on your first birthday the account had $2 in it, on your second birthday $4, on your third birthday $8, and so on.

1. Guess??? If you had to pick RIGHT NOW, which account would you choose?

CHASE

PNC

2. Now… use your calculator, a table, and/or a graph to have your FINAL DECISION in the next 10 minutes.

Which account will have the most money in it on your next birthday???

3. Would your choice change if you were 2 years younger? Explain.

4. Would your choice change if you were two years older? Explain.

CHASE

PNC