Unit 7 Quiz 1 Review: Exponential Functions

Does the function represent exponential growth or decay?

 $y=4\left(\frac{1}{2}\right)^x+3$  

• Growth

• Decay

• Neither

What is the equation of the horizontal asymptote?

 $y=4\left(\frac{1}{2}\right)^x+3$  

•  $y=4$  

•  $y=\frac{1}{2}$  

•  $y=3$  

•  $y=0$  

Does the function represent exponential growth or decay?

 $y=\left(\frac{3}{2}\right)^x$  

• Growth

• Decay

• Neither

What is the equation of the horizontal asymptote?

 $y=\left(\frac{3}{2}\right)^x$  

•  $y=\frac{3}{2}$  

•  $y=\frac{1}{2}$  

•  $y=3$  

•  $y=0$  

Use a graphing calculator to find the
 $x$ - intercept. Round to the nearest hundredth, if necassary. 
 $y=e^x-5$  

•  $\left(1.61,0\right)$  

•  $\left(2.72,0\right)$  

•  $\left(0,-5\right)$  

•  $\left(-5,0\right)$  

In 2012, Molly's mom purchased a brand-new minivan for $35,000. Each year since, the value of the van has depreciated at a rate of 5%. How much is the minivan worth today, in 2020?

• $136.72

• $16,710.94

• $23,219.72

• $51,710.94

Research has found that more and more people in Illinois are purchasing food from farmers' markets. As a consequence, a market researcher predicts that the number of farmers' markets will increase by 15% each year. If there are currently 3,200 farmers' markets statewide, how many will there be in 10 years?

Round to the nearest whole number, if necessary.

• 630

• 3,714

• 12,946

• 36,800

Suppose Caden earned $675 from mowing lawns last summer.He deposited this money in an account that pays an interest rate of 2.8%, compounded annually. What will be his balance after 7 years, when he graduates from college?

• $818.95

• $907.23

• $3,799.91

• $13,230

When he was born, Ashton's parents deposited $2,500 in a college savings account. If the account earns 3.2% interest, compounded quarterly, what will the balance be on his 18th birthday? Hint:  $A=P\left(1+\frac{r}{n}\right)^{nt}$  

• $2,885.56

• $3,401.22

• $4,407.32

• $4,437.09

Suppose Micah took a loan out for $25,690 to purchase a new truck. If the lending company charges an interest rate of 5.2%, compounded monthly, how much money will Micah owe for the truck after 5 years?

• $33,299.42

• $33,672.68

• $34,157.04

• $34,710.88