Exponential Equations and Applications

To solve 24000 = 12000e^0.03t , what would the next step be?

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You invest $15,000 with an interest rate of 8% per year compounded continuously. Using A(t)=Pe^{rt}, what function below would model the investment?

• Divide both sides by 3

• Divide both sides by e

• Take the natural log of both sides

• Rewrite the exponent 0.08t as the coefficient of "e"

• Subtract e to both sides

Fayette Bank offers you 3.8% interest compounded annually. How long will it take for your money to triple if you use Fayette Bank?

• 17 years and 10 months

• 29 years and 2 months

• 28 years and 11 months

• 29 years and 6 months

The poplulation of Eden is growing continuously at a rate of 1.9%. If the current population is 15,230, about how many years to reach 20,000?

• 31

• 2

• 15

• 68

An amount of $2,000 is deposited into a bank paying an annual interest rate of 2.85% compounded continuously. How long will it take for the money to double?

• 21.22 years

• 24.32 years

• 20.12 years

• 24.67 years

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

Which exponential equation could represent the graph shown?

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)