Exponential Growth/Decay and Compound Interest Practice Quiz

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

Tags

CCSS.HSF.LE.A.2

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 If no other money is added or withdrawn from the account, how much will be in the account after 10 years?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

Tags

CCSS.HSF.BF.A.2

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

Tags

CCSS.HSF-LE.A.1C

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