Exponential Applications

Your shiny new boat cost $7650. The depreciation for your boat is 14% per year. Estimate the value of your vehicle in 3 years. What is the equation that models this problem?

• y= 7650(.14)³

• y= 7650(1-.14)³

• y= 7650(1+.14)³

The value of a car is $15,000 and depreciates at a rate of 8% per year. What is the exponential equation?

• y=8(15,000)^x

• y=15,000(1+.08)^x

• y=15,000(1-.08)^x

• y=15,000(0.08)^x

Cade earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?

• $827.52
• $831.10
• $839.45
• $846.80

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.BF.A.1

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

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

A certain college has been raising tuition every year since the year it opened. The function T = 12,000 (1+.03)^x represents the tuition, T, after x years.

If the college opened in the year 1990, what was the tuition in 2020?

• $29,127

• $2,020

• $4,812.08

• $30,000

A population of a city is 422,000 and increases by 12% each year. What is the population in 8 years?

• 100,144 people

• 1,083,024 people

• 1,044,856 people

• 200,000 people

You put $2000 in the bank and earn interest at a 2.5% rate compounded monthly and you invest the money for 15 years. Which equations matches this problem?

• $2000\left(1+.025\right)^{180}$
  

• $2000\left(1+\frac{.25}{12}\right)^{15}$
  

• $2000\left(1+\frac{.025}{12}\right)^{180}$

• 
  

  $2000e^{.375}$

Johnny invests money in an account that is continuously compounded using an annual rate of 3%. If his initial investment is $1000, which of the following would model the situation.

• A = 1000(1 + 0.03)^t

• A = 1000e^3t

• 
• A = 1000e^.03t

You deposit $800 in an account that pays 2.65% annual interest compounded continuously. What is the balance after 12.5 years?

• $1,114.17

• $10,268.54

• $1.95 x 10¹⁷

• $1,109.37