standard_description: Derive the formula for the sum of a finite geometric series (when the common ratio is not 1), and use the formula to solve problems. For example, calculate mortgage payments.
problem_activity: 1. A youth group has a yard sale to raise money for a charity. The group earns $800 but decides to put its money in the bank for a while. The group considers two different banks:
Cool Bank pays simple interest at a rate of 4%, and the youth group plans to leave the money in the bank for 3 years.
Hot Bank pays an interest rate of 3% compounded annually, and the youth group plans to leave the money in the bank for 5 years.
Write a function to represent the amount of money earned at each bank. Then determine how much money the youth group would earn in each situation.
2. If the youth group needs the money quickly, which is the better choice? Explain your reasoning.


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