simplify “ a. For investment account 1 to double, the balance needs to reach $400. Since the account doubles every year, it would take 1 year for the balance to double to $400.
For investment account 2 to double, the balance needs to reach $2,000. Since the account increases by $100 each year, it would take 10 years for the balance to reach $2,000.
b. To double again, investment account 1 would need to reach $800. Since the account doubles every year, it would take another year for the balance to reach $800.
To double again, investment account 2 would need to reach $4,000. Since the account increases by $100 each year, it would take another 10 years for the balance to reach $4,000.
c. Even though investment account 1 starts with a lower balance, it doubles every year, leading to faster growth compared to investment account 2, which increases by a fixed amount each year. This exponential growth in investment account 1 allows it to double in a much shorter time frame compared to the linear growth in investment account 2. As a result, investment account 1 experiences much faster growth compared to investment account 2.”