Exponential Functions Review Compound Interest

• Cubic Function

• Compound Continuous Interest

• Exponential Growth

• Exponential Decay

What is the initial amount for the function: f(x) = 300(1.16)^x?

• 300

• 1.16

• .16

• x

Which of the following functions shows an initial amount of $15 and an increase of 35% each year?

• y = 15(35)^x

• y = 15(1.35)^x

• y = 15(0.35)^x

• y = 35(1.15)^x

Joe deposits $500 in an account with 3% interest compounded quarterly for a period of 5 years. What equation would you use to calculate the total amount of money Joe will have after the 5 year period?

• A=500(1+.03)⁴⁽⁵⁾

• A=500(1+.03/4)⁽⁴⁾⁽⁵⁾

• A=500(1+3)⁵

• A=500e^(.03)(5)

Gary deposited $500 in an account that earns 3% interest compounded annually. This is an example of?

• Exponential Decay

• Compound

  Continuous

• Compound Interest

Cora invested $400 at a rate of 35% for 8 months, compounded continuously. What would you put for the time?

• 400

• 2/3

• 8

• e

Treasure won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, this would represent which type of set-up?

• Quadratic

• Compound

  Continuoulsy

• Exponential Decay

• Compound Interest

You want to save $5,000 for future family vacation. If you assume you can get an interest rate of 4.3% compounded monthly, then this represents what kind of equation?

• Linear Growth

• Exponential Decay

• Compound Continuously

• Compound Interest

If you are opening a savings account, is it better to have interest compounded daily or quarterly at 7%?

• Daily - so you earn money more often

• Quarterly - so you earn money less often

• who knows

• I need to consult my financial analyst

Kennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% interest compounded quarterly, what will you plug in to your equation for the rate?

• 4

• 3000

• 2.9

• 0.029