Quiz on Exponential Functions

• 10 yrs

• 11 yrs

• 12 yrs

• 7 yrs

Write an equation that models Bruno’s investment showing how much money, 𝐴, in dollars will be in his retirement account in 𝑡 years.

• 18200 = 𝑃𝑒(6.71∙11)

• 18200 = 𝑃𝑒(0.0671∙12)

• A = 18200𝑒(0.0671∙11)

• 18200 = 𝑃𝑒(0.0671∙11)

What was the amount of the initial investment?

• $8,200

• $8,700

• $7,800

• $18,200

What will the account balance be after 20 years?

• $33,292.20

• $31,292.20

• $30,292.20

• $23,292.20

Stephannie borrowed $6,320 from a close friend at an annual simple interest rate of 8.5%. If she pays the entire loan off after 2 years, what is the total amount that she will repay?

• 0.085

• $6320

• $7394.40

• $394.40

An industrial machine used in a soda company is said to depreciate so that its value 𝐴 after 𝑡 years is given by 𝐴 = 𝑃𝑒−0.27𝑡. If the machine is worth $59,000 after 10 years, what was its original value?

• $877,904.17

• $17,012.31

• $59,000

• $600,000

Brianna invests a sum of money in a savings account with an annual interest rate of 5.21% compounded monthly. After 5 years, the balance reaches $4,538.97. What was the amount of the initial investment?

• $1,500

• $3,500

• $2,000

• $3,000

Manny invested $5,250 in a retirement account with a fixed annual interest rate compounded semi-annually. After 15 years, the balance reaches $26,165.74. What is the interest rate of Manny’s retirement account?

• 18%

• 5%

• 11%

• 9%