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Quantitative Literacy

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Submitted By linn
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Quantitative Literacy 1. y = account balance x = no. of months
Savings Plan A: y = 20x + 400
Savings Plan B: y = 10x + 600

2. When will the two savings plans yield identical balances? What is this balance? 20x + 400 = 10x + 600 -400 -400 y = 20x + 400 y = 10x + 600 20x = 10x + 200 y = (20)20 + 400 y = (10)20 + 600
-10x -10x y = 400 + 400 y = 200 + 600 10x = 200 y = 800 (dollars) y + 800 (dollars) x = 20 (months)

Savings Plan A and Savings Plan B will yield the same balance of $800 at 20 months.
3. Savings Plan A: y = 20x + 400 x-intercept = (-20, 0) y-intercept = (0, 400)
0 = 20x + 400 y = (20)0 + 400
-20x = 400 y = 400 x = -20

Savings Plan B: y = 10x + 600 x-intercept = (-60, 0) y-intercept = (0, 600)
0 = 10x + 600 y = (10)0 + 600
-10x = 600 y = 600 x = -60

(3a). refer to graph above to determine which plan shows a greater balance @ 14mos and which plan shows a greater balance @ 23mos 1. If saving ceased at 14mos, Savings Plan B shows a greater balance at $740. (Savings Plan A balance @ 14 mos = $680) 2. If saving ceased @ 23mos, Savings Plan A shows a greater balance @ $860. (Savings Plan B balance @ 23mos = $830)

4.Quadrant I is the relevant quadrant for this problem/comparison. The y-axis provides a clear visual representation of the opening balance for each Savings Plan. The x-axis provides clear representation of months, while the graphed lines through quadrant I show the increase/mo of each Savings Plan. Quadrant I allows for easy comparison of Plan A to Plan B for both short-term and long-term savings.

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