Pre-Calculus 3.1 Part 2 (Real World Exponential)

The average purchase price of a pickup truck in 2022 is $45,000. If the value of the pick up truck depreciates by 16% each year, what will its value be after 7 years?

• $13279.07

• $14,506.83

• $7200.00

• $12478.84

Tags

CCSS.HSF.BF.A.2

Bailey wants to make an investment into a CD that will grow at an annual rate of 3.3% per year. If Bailey intends to deposit $4000, what will the amount of his CD be after 10 years?

• $5534.31

• $4984.74

• $5489.84

• $4738.39

Tags

CCSS.HSF.BF.A.2

The population in the city of Edinburg is 97,734 in 2020. If the population grows at an annual rate of 5.4% each year, what is the estimated population in the year 2035?

• 215107

• 383282

• 193847

• 210562

Tags

CCSS.HSF-LE.A.1C

As part of a new promotion, a local credit union is offering savings accounts that will compound interest quarterly at a 4.1% yearly interest rate. If Jenny wants to deposit $7000 in this account, what amount is she expected to have after 6 years?

• $8941.09

• $8900.11

• $9048.10

• $9145.57

Dan has opened a new savings account at his local bank that is offering a 2.7% yearly interest rate that compounds daily. Dan plans to deposit $1000, how much will he have after 9 years?

• $1275.06

• $1740.01

• $1684.12

• $1510.38

Hunter is deciding between 2 banks to open up a brand new savings account. Bank 1 is offering a savings account with a yearly interest rate of 3.8% that is compounded semi-annually. Bank 2 is offering a savings account that with a yearly interest rate of 3.1% that is compounded daily. Hunter wants to deposit $2000 and withdraw after 8 years. Which bank will be the better investment and by how much?

• Bank 1, by $139.93

• Bank 1, by $99.73

• Bank 2, by $118.11

• Bank 2, by $103.85

Sophia is planning on placing a deposit into a college fund for her child. There are 2 companies offering college funds. Company 1 offers a college fund that has a yearly interest rate of 4.0% that compounds semi-annually. Company 2 offers a college fund that has a yearly interest rate of 3.8% that compounds weekly. Sophia plans to deposit $8000. Based off of these 2 plans, which company will provide a larger balance for Sophia after 18 years, and by how much?

• Company 1, by $468.75

• Company 1, by $312.87

• Company 2, by $573.90

• Company 2, by $275.48

A new online bank is offering customers a savings account that will compound interest continuously at a rate of 2.5%. Nick wants to deposit $20000 into this account. What amount should Nick expect to have after 4 years?

• $22103.42

• $31844.12

• $23456.09

• $2455.99

Bill wants to make sure that his daughter has $20,000 in a college fund by the time she is 18. Bill is offered to invest in a college fund that offers a 4.7% yearly interest rate that compounds monthly. If Bill will invest into this fund once his daughter is born, what must he initially deposit in order to ensure he meets his goal?

• $8596.75

• $11849.12

• $4753.91

• $6478.43

Simon is researching yearly interest rates online. Simon has a plan to deposit $5000 into an account and have $8000 in 9 years. If the interest rates he is researching only compound yearly, what interest rate much he find in order to reach his goal? (Round)

• 5.4%

• 4.8%

• 5.1%

• 3.8%