Math 4 Applications of Exponentials and Logarithms

Elizabeth invests $720 in a savings account with interest compounded at 3% monthly. She plans to save the money until it reaches the amount of $4500. How many years will it take her?

• t=59.800

• t=61.009

• t=138.011

• t=61.162

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CCSS.HSF.LE.A.4

Does the following equation model growth or decay?
y = 500(.35)^x + 7

• Growth
• Decay

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CCSS.HSF-IF.C.8B

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(.86)³
• y= 7650(1+.86/1)^3*1

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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

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CCSS.HSA.CED.A.1

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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

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Approximately what interest rate would be needed in order to grow and investment of $1400 to $2500 in 10 years if the interest was compound monthly?

• 5.96%
• 5.84%
• 5.81%
• 5.88%

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You borrowed $1,690 for 5 1/2 years at an interest of 5.7% compounded annually.  How much extra did you pay by taking out the loan?

• $602.45
• $2,292.45
• $1,87.55
• $3,982.45

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CCSS.HSA.CED.A.1

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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

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CCSS.HSA.CED.A.1

CCSS.HSA.SSE.B.4

You want to save $5,000 for future family vacation.  If the bank pays 4.3% compounded monthly for 3 years, then how much will you need to invest to reach your vacation goal?  

• $307,042,791
• $5,000
• $3,250
• $4,395.89

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CCSS.HSA.CED.A.1

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Suppose a culture of bacteria begins with 5000 cells and dies by 30% each year. Write an equation that represents this situation.

• y=5000(0.7)^x
• y=30(5000)^x
• y=5000(1.3)^x
• y=5000x^x

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CCSS.HSF.LE.A.2