Yr 11 Recurrence Relations Revision (1)

What is the context of the following question?

Michael has invested his $15000 inheritance in a savings account that pays 3.5% per annum, simple interest.

• Simple interest

• Flat rate depreciation

• Unit cost depreciation

• Compound interest investment

Michael has invested his $15000 inheritance in a savings account that pays 3.5% per annum, compounding quarterly. How much will he have in his account in 4 years time?

What is the rate per compounding period?

• 0.7%

• 0.292%

• 3.5%

• 0.875%

What is the context of the following question?

Anna purchased a $35000 car with her savings. The car depreciates at a rate of 5% per annum.

• Simple interest

• Flat rate depreciation

• Unit cost depreciation

• Compound interest investment

What is the context of the following question?

Lucy purchased a motorised bicycle to take herself to work. The bicycle depreciates by $0.15 for every hour it is used. If she rides her bike 6 hours per week for 52 weeks of the year, how much does her bike depreciate per year?

• Simple interest

• Flate rate depreciation

• Unit cost depreciation

• Compound interest investment

What is the context of the following question?

Trent invests his Christmas bonus of $7500 into a savings account that pays interest at 2.75% p.a, compounding monthly. What will the balance of his account be in 5 years time?

• Simple interest

• Flate rate depreciation

• Reducing balance depreciation

• Compound interest investment

What is the context of the following question?

Mould spores in a petri dish triple in number every hour. If the dish began with 3000 spores, how many spores will be in the dish after 6 hours?

• Geometric growth

• Arithmetic growth

• Geometric decay

• Arithmetic decay

What is the context of the following question?

A farming community have a herd of 2000 cattle. Every year, 11 cattle die due to old age. Model the population using a recurrence relation.

• Geometric growth

• Arithmetic growth

• Geometric decay

• Arithmetic decay

What does U_n represent?

• The future value

• The initial value

• The rate of growth

• The rate of decay

What does U₀ represent?

• The future value

• The initial value

• The rate of growth

• The rate of decay

What does 5% in depreciation represent?

• The future value

• The initial value

• The rate of growth

• The rate of decay