Question: This exercise illustrates just how fast exponential functions grow in the long term. Suppose you start work for a company at age 25. You are
This exercise illustrates just how fast exponential functions grow in the long term. Suppose you start work for a company at age 25. You are offered two rather unlikely retirement options. Retirement option 1: When you start work, the company immediately deposits $4000 into a savings account. They put an additional $15,000 into the account for each year of service. When you retire, the account will be closed and the balance given to you. Retirement option 2: When you start work, the company immediately deposits $4000 into a savings account that earns an annual interest rate of 14%. When you retire, the account will be closed and the balance given to
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