Which of the following are appropriate long-term goals one can set for themselves in order to be financially responsible? Select all that apply.

Save $5,000 over the next 4 years.
Get a job to save enough money so you don’t have to take out a student loan.
Set up a savings account.
Borrow money from your parents so you can move out on your own.

Get a job to save enough money so you don’t have to take out a student loan.

Set up a savings account.

would be the most appropriate answers.

Part A

The price f(x), in dollars, of product A after x years is given by: 
 



this means that:
 
after 0 years, that is for x=0, the price is , the original price

after 1 years, that is for  x=1, the price is 

so after 1 year, the price is 0.82=82/100=82% times 12,500.

This means that after one year, the new price is 82% of the original price, which means the product is depreciated by 18 %.

After 2 years, for x=2, 

, 

that is, after 2 years, the price is 82% of the price after 1 year.

and so on: after each year, the price is 18% less than the previous year.

the price of product A is decreasing each year by 18%.

Part B:

Product B is clearly decreasing in price, 

consider the changes in price in the following intervals of years:

1-2

if           5600 is 100%
then         3136  is (3136/5600) *100%= 56%, 

so in the 1.year, the product depreciated by 44%,

2-3,

(1756.16/3136)*100%=56%

3-4


(983.45/1756.16)*100%=56%


Clearly, the price of product B decreases by 44% each year.

Product B has a greater percentage change in price.

 

A:the price of product A is decreasing each year by 18%.

B:Product B has a greater percentage change in price.