Applications of Exponential Functions

You have inherited land that was purchased for $30,000 in 1960. The value of the land increased by approximately 5% per year. What is the approximate value of the land in the year 2011?

• $344,022

• $15,000

• $361,223

• $28,500

Is this exponential growth or decay?

• Growth because a=1

• Decay because b=0.5

• Growth because there is no a

• Neither because a=0

Pick the equation that is exponential growth

• y = 0.5(2)^x

• y=2(0.5)^x

• y = .5x - 2

• y = 2x + .5

Suppose a culture of bacteria begins with 5000 cells and dies by 30% each year. Write an equation that represents this situation.

• y=30(5000)^x

• y=5000x^x

• y=5000(1.3)^x

• y=5000(0.7)^x

You buy a new computer for $2100. The computer decreases by 50% annually. How much is it worth after 2 years.

• 225

• 425

• 325

• 525

A population of fish starts at 8,000 and decreases by 6% per year. What is the population of fish after 10 years?

• 14,327

• 839

• 4,309

• 7,689

A collectible car has been going up in price by 10% each year. If the car is already worth $29,000, how much will the car be worth in 5 years?

• $0.29
• $2,900,000,000
• $46,704.79
• $145,000

The expression 12(1.015)^t models the population of elephants in a wildlife refuge after t years since 1975.
Is the population of elephants increasing or decreasing?

• Increasing
• Decreasing

The value of a car purchased for $20,000 decreases at a rate of 12% per year. What will be the value of the car after 3 years?

• $12,800.00

• $13,629.44

• $17,600.00

• $28,098.56

Ash has $8,000 in a savings account. The interest rate is 3% compounded once a year.

To the nearest cent, how much will he have in his account in 4 years?

• $9,004.07

• $2,2848.80

• $9,011.94

• $8,242.71