Math 1220 Exponential & Log Exam

Front

What is depreciation in the context of finance?

Back

Depreciation is the reduction in the value of an asset over time, often due to wear and tear or obsolescence.

Front

How do you calculate the value of an asset after depreciation?

Back

Use the formula: Value = Initial Cost × (1 - Depreciation Rate)^Number of Years.

Front

What is the formula for exponential growth?

Back

The formula is: N(t) = N0 × e^(rt), where N0 is the initial amount, r is the growth rate, and t is time.

Front

What is the difference between exponential growth and exponential decay?

Back

Exponential growth increases over time, while exponential decay decreases over time.

Front

What does the term 'logarithm' mean?

Back

A logarithm is the power to which a number must be raised to obtain another number. For example, log_b(a) = c means b^c = a.

Front

What is the domain of the function y=log_2(x+1)?

Back

The domain is (-1, ∞) because the argument of the logarithm must be greater than zero.

Front

How do you solve an exponential equation like 9^{(x-20)} = 1/81?

Back

Convert both sides to the same base or use logarithms to isolate x.

Front

What is compound interest?

Back

Compound interest is interest calculated on the initial principal and also on the accumulated interest from previous periods.

Front

How do you calculate compound interest?

Back

Use the formula: A = P(1 + r/n)^(nt), where A is the amount, P is the principal, r is the annual interest rate, n is the number of times interest is compounded per year, and t is the number of years.

Front

What is the formula for calculating the future value of an investment with compound interest?

Back

The formula is: FV = P(1 + r/n)^(nt).