Answer:
(c)12th Month
(d)$76.86
Explanation:
Part A
Prize A: $5,000 for the first month with a $100 increase every month thereafter.
[tex]y_1=5,000+100x[/tex]
Prize B: $2,000 for the first month with a 10% increase every month thereafter.
[tex]\begin{gathered} y_2=2000(1+\frac{10}{100})^x \\ y_2=2000(1.1)^x \end{gathered}[/tex]
Part B
The table is completed and attached below:
Part C
As seen from the table, Prize B will earn more than prize A in the 12th Month.
Part D
[tex]\begin{gathered} \text{Difference in the 12th Month=6276.86-6200} \\ =\$76.86 \end{gathered}[/tex]
Prize B will earn $76.86 more than prize A in the 12th month.