6. Topic 15 Review Part 1

Review- Paper and Quizizz

First Box

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Multiple Choice

First Box

Recall the formula for interest compounded continuously: $$A=Pe^{rt}$$

where P is the principal, r is the annual interest rate, and t is the number of years.

If you invest $1000 in an account, what interest rate will be required to double your money in 10 years?

• 0.069%

• 1%

• 6.9%

• 7.4%

• 10

Second Box

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Reorder

Keeley, Dave, and John all open bank accounts in which interest is compounded continuously. They want to know which bank account will be the first to reach a balance of $300. The details of their investments are shown. Place Keeley, Dave, and John in ascending order from first to reach $300 to last. Think about your answer and who will get the $300 first.

 

Keeley’s account: P = 250, r = 0.045

Dave’s account: P = 240, r = 0.055

John’s account: P = 260, r = 0.035

• Keeley

• Dave

• John

1

2

3

• 1
• 2
• 3

Third Box

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Multiple Choice

Third Box

The exponential growth model $$y=Ae^{rt}$$  can be used to calculate the future population of a country. In this model, A is the current population and r is the rate of growth. y is the future population for a specific time, t, in years.

 

The population of a certain country has a growth rate of r = 0.063. Approximately how long will it take the country's population to grow from 23,000,000 to 48,000,000?

• 51 years

• 5 years

• 11 years

• 33 years