Question: Evaluating and Solving an Linear and Exponential Applications Identify the information given to you in the application problem below. Use that information to answer

Evaluating and Solving an Linear and Exponential Applications Identify the information given to you in the application problem below. Use that information to answer the questions that follow. Assume you can invest $7000 at 3.92% Simple Interest or 3.1% Compound Interest (Annual). The equation for Simple Interest is modeled by: A = P + Prt. Compound Interest is modeled by A = P(1 + r)'. The corresponding equations for these two types of interest are given below. S(t) = 7000 + 274.4t C(t) = 7000(1.031) a) Complete the table for each function. Round your answers to two decimal places as needed. 5 10 15 20 S(t) C(t) b) At the end of what year will the Accrued Value of the account earning Compound Interest (C(t)) be higher than the Accrued Value of the account paying Simple Interest (S(t))? The investments earning Compound Interest will have a higher Accrued Value at the end of year

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