3.1 Summarizer

Emily 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

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

• $12712.31
• $12,749.30
• $12,657.59
• $12550.84

Hugo opened a savings account and deposited $800 as principal. The account earns 4% interest, compounded continuously. What is the balance after 5 years?

• $832.00

• $977.12

• $973.32

• $960.00

Which does y= 2(.5)^x represent?

• Exponential Growth

• Exponential Decay

The function y = 24,220 (0.85)^x represents Mr. Bittle's investment in the stock exchange where x is measured in months.

Which statement is NOT true.

• Mr. Bittle loses 85% of his investment monthly

• Mr. Bittle initially invested $24,220

• Each month Mr. Bittle loses 15% of his investment

Write an exponential function to model the situation. You invest $1500. Your investment increases at a rate of 3.5%.

• B(t) = 1500(0.965)^t

• B(t) = 1500(1.035)^t

• B(t) = 1500(1.35)^t

• B(t) = 1500(1.965)^t

Write an exponential function to model the situation. Then solve.

The value of a car is $18000 and is depreciating at a rate of 12% per year. What will the value of the car be after 10 years?

• V(t) = 18000(.88)^t ; $12986.98

• V(t) = 18000(.12)^t ; $12986.98

• V(t) = 18000(.88)^t ; $5013.02

• V(t) = 18000(.12)^t ; $5013.02

The number of mosquitoes at the beginning of the summer was 4,000. The population of mosquitoes is expected to grow at a rate of 25% a month. How many mosquitoes will there be after 4 months?

• 9766
• 9006
• 9765
• 5433

What is the decay rate for the function: f(x) = 800(0.85)^x?

• 800

• 0.85

• 15%

• x

Since January 1980, the population of the city of Brownville has grown according to the mathematical model y=720,500(1.022)^x, where x is the number of years since January 1980. What is the was the population of Brownville in 1980?

• 102.2 people
• 720,500 people
• 1.022 people
• 1022 people