(4/19-4/20) Exponential Equation Review

You purchased a car for $35,000. The minute you drove it off the lot it started going down in value by 1.3%. What will the value of your car be after 7 years?

• $219,619.81

• $31,936.56

• $38,311.94

• $34,545

You invested $1000 in a savings account at the end of 6th grade. The account pays 5% annual interest. How much money will be in the account after six years?

• $1340.10

• $735.09

• $1,5625,000

• $1567.23

An initial population of 505 quail increases at an annual rate of 23%. Write an exponential function to model the quail population.

• $y=505(0.23)^x$

• $y=505\left(23^x\right)$

• $y=\left(505\times23\right)^x$

• $y=505\left(1.23\right)^x$

The math club is fast becoming one of the most popular clubs on campus. Each year, the club’s enrollment increases by 30%. If the club has 45 members this year, how many members should it expect to have in 5 years from now?

• 1350 members

• 167 members

• 464 members

• 8 members

Madison really wants to buy a car in 4 years and she wants to start saving for a down payment. If she deposits $3500 now with interest compounding continuously at 3%, what down payment will she have for her car?

• $11,255.09

• $3,098.52

• $569,641,770

• $3,946.24