Answer:
[tex]A(n) = 1(1 + \frac{3.2}{100})^{t}[/tex]
[tex]A(r) = 1(1 + \frac{0.33}{100} )^{12t}[/tex]
The value of the ring is increasing at a faster rate.
Step-by-step explanation:
It is given that the value of a necklace increases by 3.2% per year.
Therefore, the value of the necklace after t years will be
[tex]A(n) = 1(1 + \frac{3.2}{100})^{t}[/tex] .......... (1)
{The initial value is given to be $1}
Again, the value of a ring increases by 0.33% per month.
Therefore, the value of the ring after t years will be
[tex]A(r) = 1(1 + \frac{0.33}{100} )^{12t}[/tex] ............ (2)
{The initial value is given to be $1}
Therefore, from equation (1) the value of the necklace after 1 year will be
A(n) = $1.032
And from equation (2) the value of the ring after 1 year will be
[tex]A(r) = 1(1 + \frac{0.33}{100} )^{12} = 1.04[/tex] dollars.
Therefore, the ring will value more after 1 year.
Therefore, the value of the ring is increasing at a faster rate. (Answer)
