Exponential Interest

Which of the following functions shows an initial amount of $15 and an increase of 35% each year?

• y = 15(35)^x
• y = 15(1.35)^x
• y = 15(0.35)^x
• y = 35(1.15)^x

Suppose you deposit $3000 in a savings account that pays interest at an annual rate of 4%. If no other money is added or withdrawn from the account, how much will be in the account after 10 years?

• $3122.18
• $4994.50
• $4440.73
• $86,776.40

A population of fish starts at 8,000 and decreases by 6% per year. What is the population of fish after 10 years?

• 14327
• 4309
• 839
• 7680

What does the model P=A(1+r)^t best represent?

• Exponential growth
• Simple Interest
• Compound Interest
• Exponential Decay

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

Your 6 year investment of $40,000 at 14% interest compounded annually is worth how much now?

• $47,798.90
• $87,798.90
• $127,798
• $7,798