Constant and Variable Scenario 1

Rates of Change
Yosef puts $10 from every paycheck into a jar in his
closet to save longterm. How has the cash balance in
the jar changed over time?

Is this rate of change Constant, Variable, or Is this rate of change Con

Not Enough Information? Enough Information?

ANSWER: ANSWER:
For this part of the Group Assignment, you will
simply be analyzing different scenarios to
determine if they have constant or variable
rates of change, or if there isn’t enough Why? Why?
information to tell. Then explain why you
answered like you did.

Please see your textbook if you have any

questions about the difference between
variable and constant rates of change. Scenario 4

African Elephant Numbers Plummet 30 Percent,

Landmark Survey Finds. How has the African
Elephant population changed over time?

Is this rate of change Constant, Variable, or Not

Enough Information?

ANSWER: Is this rate of change Con

Enough Information?

ANSWER:
Why?
 Is this rate of change Con
Enough Information?

ANSWER:
Why?

Why?
 Scenario 2 Scenario 3

Carlos and Sofia earn 3.7% interest annually from

Every week all spring the price of gas has risen by 2
their savings account. How has the balance in their cents. How has the price changed over time?
savings account changed over time?

Is this rate of change Constant, Variable, or Not Is this rate of change Constant, Variable, or Not
Enough Information? Enough Information?

ANSWER: ANSWER:

Why? Why?

Scenario 5

The urban population of Bangkok Thailand grew from

7.8 million people to 9.6 million between 2000 and
2010, a relatively modest annual growth rate of
2.0%. It has the ninth largest population in East Asia.
How has the population of urban Bangkok changed
over time?

Is this rate of change Constant, Variable, or Not

Enough Information?

ANSWER:
Is this rate of change Constant, Variable, or Not
Enough Information?

ANSWER:

Why?
Scenario Questions
How much money does Ali have in his account at age 65?

Ali and Bruno were born the exact same day. Their retirement
accounts average 7% APR and compound monthly. How much money does Bruno have in his account at age 65?

Ali: When Ali graduated from college at age 24, he began saving
for retirement. He put $500 per month into a 401K account. Which one has more in their accounts?
After 11 years he stopped paying into the account, but he left
the money in the account where it earned interest for the next
30 years. Who deposited more money into their account?

Bruno: After college Bruno worked hard but did not start to
save for retirement until he was 35 years old. He put $500 per
month into his 401K savings account for the next 30 years.

in his account at age 65?
ave in his account at age 65?
ounts?
o their account?
Work
Use the FUTURE VALUE (FV) function to answer the questions.
If you have questions about the FV function, refer to the
textbook.
Two hints:
1. Can one FV Function model how much money Ali will have
at age 65?
2. The ‘pv’ part of the FV Function is where you put in the
amount originally deposited in an interest bearing account,
over and above the monthly amount.
Scenario

Carolina and Evangeline are new freshmen. Each woman

decided to get the maximum student loan for their first
semester, and neither of them take out any more student loans
for the rest of their education. Both loans have an APR of 4.5%
and were for $6250.
Carolina: Carolina's loan is a Subsidized Student Loan. This
means the federal government pays the interest on the loan
until 6 months after Carolina leaves school. This loan is need-
based.

Evangeline: Evangeline’s loan is an Unsubsidized Student Loan.

Interest begins to accrue as soon as the loan is taken out. This
loan in not need-based. The interest is compounded monthly
and Evangeline does not make payments until 6 months after
she graduates.
Questions
If Carolina graduates in 4 years how much money does she owe
on her loan 6 months after graduation?

If Evangeline graduates in 4 years how much money does she

owe on her loan 6 months after graduation?
Work
As needed, use the Future Value (FV) function to calculate what
Carolina and Evangeline owe 6 months after graduation.
Save this file and upload it to the W09 Group Assignment
Submission folder in I-Learn.

Then, as a group, answer the W09 Group Assignment Quiz.