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W. Gary Martin, martiwg@auburn.edu
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Making an Allowance
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Your parents finally agree to provide you with a monthly allowance, with the amount of your allowance increasing each month if you keep your grades up. But they decide to give you a choice of three plans:
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Plan A: Start with a \$20 allowance and get a \$1 raise each month (assuming good grades in school).
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Plan B: Start with a \$15 allowance. Your first raise is \$0.25, and each month your raise increases by \$0.25 (again assuming good grades).
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Plan C: Start with a \$10 allowance and get a 10% raise each month (still assuming good grades).
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Which plan should you choose? Explain your answer!
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See sample solutions in the following tabs.
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