Quiz_7 - State the domain 3(5 Points List assumptions(give...

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Cadet__________________________________ Section_______ Quiz #7-MA103 50 points You have 20 minutes to finish. You may use Excel and Mathematica. You may NOT use the internet. SHOW YOUR WORK! Two insurance companies are trying to sell you life insurance policies, each with the same benefits and coverage. You plan on staying with the policy that you buy for 20 years. Policy A costs $1250 per year and will rise by 2% each year. Policy B costs $1200 per year and will rise by $200 each year. You wish to model which is a better policy. 1. (5 Points) Define the variables. 2. (5 Points)
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Unformatted text preview: State the domain. 3. (5 Points) List assumptions (give at least two). 4. (5 Points) State your initial conditions. 5. (15 Points) Define the model(s) (your recursion equation(s)). 6. (10 Points) Which policy is better… A or B? Why? 7. (5 Points): If Policy A is better, what would the yearly dollar increase (currently $200) need to be for Policy B in order to be equivalent to Policy A? If Policy B is better, what would the yearly percentage policy increase (currently 2%) need to be for Policy A in order for Policy A to be equivalent to Policy B?...
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This test prep was uploaded on 04/17/2008 for the course MA 103 taught by Professor Boucher during the Fall '07 term at West Point.

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