Solving Exponential Function Word Problems

What does the variable 'P' represent in the exponential function formula?

• The initial amount

• The time interval

• The growth rate

• The final amount

If the growth rate is 5%, what is the decimal equivalent used in the exponential function?

• 0.005

• 0.05

• 0.5

• 5

A gym has 200 members and the membership grows at 10% per year. How many members will there be in 3 years?

• 260

• 242

• 266

• 220

What is the base of the exponential function for a decay rate of 15%?

• 0.85

• 1.85

• 0.15

• 1.15

A population of 50,000 decreases by 8% annually. What will the population be after 5 years?

• 32,768

• 35,000

• 40,000

• 33,000

How do you determine whether to use a linear or exponential function for a word problem?

• Check if the problem involves division

• Check if the problem involves subtraction

• Check if the problem involves repeated addition or multiplication

• Check if the problem involves percentages

A catering company charges a $100 setup fee plus $20 per person. What type of function is this?

• Logarithmic

• Quadratic

• Exponential

• Linear

If a stock's value decreases by 5% weekly, what will its value be after 6 weeks if it starts at $50?

• $35.50

• $40.00

• $38.00

• $37.50

How should you round the population of turtles if the calculated value is 1234.7?

• 1235

• 1234

• 1234.7

• 1230

Maria invested in a savings account with 1.5% annual interest. If she has $6,250 after 4 years, what was her initial investment?

• $5,800

• $5,889

• $5,900

• $5,850