Exponential Growth/Decay

Tamara opens an account with an investment firm with a principal deposit of $500. The firm offers interest at an annual rate of 3.5% compounded monthly.

Which expression below could be used to model the value of Tamara's account, A, after t years of accruing interest?

Angela purchased a car for $34,000. The value of this car depreciates at an annual rate of 12.5%. Approximate the value of Angela's car if she owns it for 8 years, rounded to the nearest cent.

Richard made an investment of $500,000. Four years later, the value of the investment had doubled in value. If the interest rate is compounded annually, what is the approximate annual interest rate?

^{Round your answer to the nearest tenth of a percent.}

Meredith opened a savings account that accrues annual interest at 5%, compounded daily. If Meredith opened the account with $2000 principal, how much will the account be worth at the end of two years? Round to the nearest cent.

Donna takes 5000mg of ibuprophen. Her body filters the medication at a rate of 40% per hour. To the nearest milligram, about how much will remain in her system after 3 hours?

An investment accrued interest for 2 years at an annual rate of 10% interest. By the end of the 2 years, the investment was worth $20,000. What was the initial investment? Round to the nearest cent.

Identify whether each function represents exponential growth or exponential decay

Groups:

(a) GROWTH

,

(b) DECAY

Write the equation of an exponential function in the form of y=a(b)^x with the following characteristics:

Initial Value: 500

Growth rate: 15%

Mathematical Equivalence

ON

Write the equation of an exponential function in the form of y=a(b)^x with the following characteristics:

Initial Value: 250

Decay rate: 8%

Mathematical Equivalence

ON

Groups:

(a) TRUE

,

(b) FALSE

• The account was open for 8 years.

• The account had a $3000 principal investment.

• The investment is compounded quarterly.

• The account gains 0.5% interest annually.