Exponential Functions

If $1,000 is invested at 16% interest, compounded continuously, for five years, what is the ending balance?

• $1,225,54
• $2,225.54
• $22,255.40
• $225.54

Find the following Balance:
$600 invested at 6% compounded annually for 7 years.

• $2273.04
• $1080.57
• $1057.95
• $902.18

The Arnold's took out a loan for $195,000 to purchase a home. At 4.3% interest rate compounded annually, how much will they have paid after 30 years?

• $412,749.79
• $529.305.61
• $689,546.99
• $640,891.53

Tags

CCSS.HSF-LE.A.1C

What is a, the starting term, for the function: f(x) = 300(1.16)^x?

• 300
• 1.16
• .16
• x

A population of 2200 beetles is too large to sustain and decreases in population each month at a rate of 5%. How would you write your decay factor, b?

• -5
• -.05
• .95
• .05

Tags

CCSS.HSF-LE.A.1C

You invest $5000 for 3 years at 6.5% interest compounded quarterly. Which formula would you use to find the total amount of money you would have in 3 years?

• I = Prt

• A = P (1 + r/n)^nt

• A = Pe^rt

You invest $2500 for 3.5% interest compounded continously. Which formula would you use to find the total amount of money you would have in 8 years?

• I = Prt

• A = P (1 + r/n)^nt

• A = Pe^rt

Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent $7,400, how much total will she have paid after 8 years.

• $15,415.94
• $15,683.28
• $15,927.56
• $16,109.05

Approximately what interest rate would be needed in order to grow an investment of $1,400 to $2,500 in 10 years if the interest was compound monthly?

• 5.96%
• 5.84%
• 5.81%
• 5.88%

Shawn is buying a new Jet Ski for $12,500. He is considering 2 credit options. Option A offers a 6 year loan with 8.5% interest compounded quarterly, while Option B offers a 5 year loan with10% interest compounded annually.Which option is better and how much will he save?

• A) A; $495.21 raise money for charity
• B) A; $573.83 get attention
• C) B; $495.21 get on the news
• D) B; $573.83 do something crazy