Exponential Equation and Compound Interest
Authored by Anthony Clark
Mathematics
11th Grade
CCSS covered
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14 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Steve deposited
$5,000 in a savings account that pays 4% interest compounded annually. Which
equation could be used to find the value of the account after 3 years?
A = 5,000(1 + 4)3
A = 5,000(1 + 0.04)3
A = 5,000(1 + 0.4) x 3
A = 5,000(0.04)3
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The expression 12(1.015)t models the population of elephants in a wildlife refuge after t years since 1975.
What does the value 1.015 represent?
The number of elephants was 1,015 in 1975.
The number of elephants increases by 1.5% each year.
The number of elephants increases by 101.5% each year.
The number of elephants is multiplied by 1.015 each year.
Tags
CCSS.HSF.LE.B.5
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Is the following function exponential growth, exponential decay, linear, or none of the above.
g(x) = 740(.001)3x
Exponential growth
Exponential decay
Linear
None of the above
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does the r stand for in this formula?
Initial amount
Final amount
Rate
Time
The number of times compounded per year
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
How long will it take $3000 to double if it is invested in an account that pays 3% compounded continuously?
23.1 years
22.1 years
21.1 years
20.1 years
Tags
CCSS.HSF.LE.A.4
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Chelsea put $7500 into an account paying 5% compounded continuously. She now has $10,643.01. How long has the money been in the account?
7 years
6 years
5 years
4 years
Tags
CCSS.HSF.LE.A.4
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does the n stand for in this formula?
Initial amount
Final amount
Rate
Time
The number of times compounded per year
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