Interest Exponential Function

Emily’s parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semiannually,what will be the balance after 18 years?

• $6,273.50

• $6,314.08

• $6,385.72

• $6,427.94

Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% interest compounded quarterly. If she spent $7,400, how much total will she have paid after 8 years?

• $15,415.94

• $15,683.28

• $15,927.56

• $16,109.05

Approximately what interest rate would be needed in order to grow an investment of $1,400 to $2,500 in 10 years if the interest was compound monthly?

• 5.96%

• 5.84%

• 5.81%

• 5.88%

You want to save $5,000 for future family vacation. If the bank pays 4.3% compounded monthly for 3 years, then how much will you need to invest to reach your vacation goal?

• $3,042.79

• $4,000

• $3,250

• $4,395.89

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 interest will she earn in 10 years?

• $915.59

• $933.28

• $979.81

• $1,005.09

Karla invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Karla earn in 15 years?

• $1,584.62

• $2,651.39

• $2,706.86

• $1,825.10

Write an exponential function for the graph that passes through the given points: (0, 128) and (5, 371,293)

• f(x) = 128(4.926)^x

• f(x) = 4.926(128)^x

• f(x) = 128(0.203)^x

• f(x) = 0.203(128)^x

Mylan received $10,000 in 2009. He invested it and by 2020 the amount has grown to $16,960. Write an exponential function that could be used to model the the amount of money.

• f(x) = 10,000(1.045)^x

• f(x) = 10,000(1.45)^x

• f(x) = 10,000(0.957)^x

• f(x) = 10,000(1.957)^x

What is the y-intercept of the function?

• 2

• 3

• 1

• -2

What is the x-intercept of the exponential function? 

• (0,1)

• (0,0)

• There is not one