EOC Competition Flashcard #2 A2B

Front

What is compound interest?

Back

Compound interest is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.

Front

How do you calculate the time to double an investment with compound interest?

Back

Use the formula: t = \frac{\ln(2)}{\ln(1 + r/n)} \times n, where r is the annual interest rate and n is the number of compounding periods per year.

Front

What is the formula for exponential decay?

Back

The formula for exponential decay is y = y_0(1 - r)^t, where y_0 is the initial amount, r is the decay rate, and t is time.

Front

What does the y-intercept of a function represent?

Back

The y-intercept of a function is the value of y when x = 0, indicating where the graph of the function crosses the y-axis.

Front

How do you determine the rate of change in a function?

Back

The rate of change can be determined by finding the slope of the line, which is calculated as \frac{\Delta y}{\Delta x}.

Front

What is the significance of rounding in mathematical solutions?

Back

Rounding is used to simplify numbers to a certain degree of precision, making them easier to work with while maintaining a reasonable level of accuracy.

Front

What is the difference between linear and exponential functions?

Back

Linear functions have a constant rate of change, while exponential functions have a variable rate of change that increases or decreases multiplicatively.

Front

How do you solve a linear equation?

Back

To solve a linear equation, isolate the variable on one side of the equation using inverse operations.

Front

What is the formula for calculating simple interest?

Back

The formula for simple interest is I = P \times r \times t, where I is the interest, P is the principal, r is the rate, and t is the time.

Front

What does it mean for a population to decrease by a percentage?

Back

A population decreasing by a percentage means that a certain fraction of the population is lost each year, leading to a smaller population over time.