7.6 - Growth Decay and compounding interest

In March, 2020, before the Covid-19 lockdown, 1,200,000 Texans had applied for unemployment. During the COVID-19 lockdown, the number of people applying for unemployment increased by 4% each month. What exponential function can be used to find the number of people applying for unemployment after x months of COVID-19 lockdown?​ (a)  

Tags

CCSS.HSF.LE.A.2

Which of the following exponential functions represents an initial value of 1780 and a growth of 18% for x years?​

(a)  

Tags

CCSS.HSF.LE.A.2

• The initial number of waves is 15.

• The initial number of waves decreases at a rate of 85% each day.

• The initial number of waves increases at a rate of 15% each day.

• The number of waves at the end of one day is 354.

Tags

CCSS.HSF-IF.C.8B

This is an example of:

• Linear Growth

• Linear Decay

• Exponential Growth

• Exponential Decay

Tags

CCSS.HSF-IF.C.7E

This is an example of:

(a)  

• Exponential Growth
• Linear Growth
• Linear Decay
• Exponential Decay

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CCSS.HSF-IF.C.7E

Select all the equations that represent exponential decay.

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CCSS.HSF-IF.C.8B

Kennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, how much total will she earn in 10 years?

• $4915.59

• $3933.28

• $2979.81

• $4005.09

• I have no idea

Please label each part of the function with the appropriate descricription.

a

b

c

d

growth/decay factor

time

final value

initial value

Tags

CCSS.HSF-IF.C.8B

What is the benefit of starting to invest early, even with a small amount?

• Your investments are likely to grow more since compounding means returns get larger over time

• You are guaranteed higher returns since compounding reduces the risks of investing

• You can use your investments to meet short-term financial goals since you don't need to hold them as long

• You can take advantage of brokerage discounts for long-term investors

You've set a goal of having $12,000 after 18 years. If you estimate that your investment account will have an average yearly growth factor of 1.07, how much money should you invest today? Round to the nearest cent.