The person who will have more money by year 20 is given by: Option C: Tyler, because his money is increasing exponentially
What are exponential functions?
When the expression of function is such that it involves the input to be present as exponent (power) of some constant, then such function is called exponential function. There usual form is specified below. They are written in several such equivalent forms.
For example, [tex]y = a.b^x[/tex] , where a is a and b are constants is an exponential function.
How to calculate simple interest's amount?
If the initial amount (also called as principal amount) is P, and the interest rate is R% annually, and it is left for T years for that simple interest, then the interest amount earned is given by:
[tex]I = \dfrac{P \times R \times T}{100}[/tex]
How to calculate compound interest's amount?
If the initial amount (also called as principal amount) is P, and the interest rate is R% per unit time, and it is left for T unit of time for that compound interest, then the interest amount earned is given by:
[tex]CI = P(1 +\dfrac{R}{100})^T - P[/tex]
The final amount becomes:
[tex]A = CI + P\\A = P(1 +\dfrac{R}{100})^T[/tex]
Usually these two rates are used on money. The compound interest is exponential as it has power T as a variable, but for simple interest, there is no variable exponent.
Both are positive, and growth of exponential function is always going to surpass the growth of linear function (can be proven by derivatives).
Since we are not given the function's equation, we cannot correctly calculate the value just from graph, but as in 14 years, the blue line is already close to red line so it will likely cross it after 6 more years (thus total 20 years) because of good growth.
Thus, the person who will have more money by year 20 is given by: Option C: Tyler, because his money is increasing exponentially
Learn more about instantaneous rate of change here:
https://brainly.com/question/13467261
