Determine the Exponential Word Problems Formula

Given the scenario below, determine the appropriate formula.

An employee receives a 3% raise once per year. If the employee's initial salary is $75,800.00, what will the employee's salary be after 14 years?

Given the scenario below, determine the appropriate formula.

Mofor invests a sum of money in a retirement account with a fixed annual interest rate of 7% compounded semi-annually. After 13 years, the balance reaches $7,672.97. What was the amount of the initial investment?

Given the scenario below, determine the appropriate formula.

Daniel invests $3,216 in a savings account with a fixed annual interest rate of 4% compounded continuously. How long will it take for the account balance to reach $4,609.59?

Given the scenario below, determine the appropriate formula.

Norachai invests $6,468 in a retirement account with a fixed annual interest rate compounded continuously. After 14 years, the balance reaches $13,024.95. What is the interest rate of the account?

Given the scenario below, determine the appropriate formula.

For tax purposes, a car rental company assumes each car in their fleet depreciates by 9% per year. If the initial value of a car is $21,100.00, in how many years will the value depreciate to $3,199.71?

Given the scenario below, determine the appropriate formula.

Mark invests $1,151 in a savings account with a fixed annual interest rate of 6% compounded weekly. What will the account balance be after 11 years?

Given the scenario below, determine the appropriate formula.

Mark invests $1,151 in a savings account with a fixed annual interest rate of 6% compounded weekly. What will the account balance be after 11 years?