Exponential Growth and Decay Word Problems

Front

What is exponential growth?

Back

Exponential growth occurs when a quantity increases by a fixed percentage over a period of time, leading to rapid increases as the base amount grows.

Front

What is exponential decay?

Back

Exponential decay occurs when a quantity decreases by a fixed percentage over a period of time, leading to rapid decreases as the base amount shrinks.

Front

How do you calculate the future value of an asset that depreciates?

Back

Future Value = Present Value * (1 - depreciation rate)^number of years.

Front

How do you calculate the future value of an asset that appreciates?

Back

Future Value = Present Value * (1 + growth rate)^number of years.

Front

If a computer costs $1500 and depreciates by 18% annually, what will its value be after 1 year?

Back

Value after 1 year = 1500 * (1 - 0.18) = $1230.

Front

If 910 students voted this year and there is a 5% decrease each year, how many will vote next year?

Back

Votes next year = 910 * (1 - 0.05) = 864.

Front

What is the formula for calculating the number of farmers' markets in the future with a 15% growth rate?

Back

Future Number = Current Number * (1 + growth rate)^number of years.

Front

If there are 6200 farmers' markets this year, how many will there be in 2 years with a 15% growth rate?

Back

Future Number = 6200 * (1 + 0.15)^2 = 6200 * 1.3225 = 8199.

Front

What is the formula for calculating the remaining population after a percentage decrease?

Back

Remaining Population = Initial Population * (1 - decrease rate)^number of years.

Front

If a mice population of 25000 decreases by 20% each year, what will it be after 1 year?

Back

Population after 1 year = 25000 * (1 - 0.20) = 20000.