Exponential Functions Review Compound Interest

The graph of an exponential function is shown. Which of the following is NOT a true statement?

• The domain is the set of all real numbers

• The range is the set of all real numbers greater than 0

• The graph is decreasing from left to right

• The initial balance in the account decreases at a rate of 97.5% each year.

• The balance in the account increases at a rate of 2.5% each year.

• The initial balance in the account was $1,025.

• The balance in the account at the end of 1 year is $850.

The table represents some points on the graph of an exponential function. Which function represents the same relationship?

The graph of an exponential function is shown. Which dashed line represents the asymptote of the function?

• Line A

• Line B

• Line C

• Line D

Denise has $80 in a savings account that earns 10% interest, compounded annually.
To the nearest cent, how much will she have in 3 years?

• $106.48

• $26.48

• $8 

• $104

A college receives a donation of $955,000 that earns 5.33% interest compounded daily. How much interest would the college earn in one year?

• $52,278.53

• $50,901.50

• $1,005,901.50

• $1,007,278.53

Find the balance in the account after the given period.

$13,500 deposit earning 3.3% compounded monthly after 1 year

• $13,611.38

• $14,898.84

• $13,537.13

• $13, 952.30

Avery deposits $8000 in a one year CD at 3.2% interest, compounded daily. What is Avery's ending balance?

• $8,528.72

• $8,000.70

• $8,256.00

• $8,260.13

Mark took a loan out for $25,690 to purchase a truck. At an interest rate of 5.2% compounded monthly, how much total will he have paid after 5 years?

• $33,299.42    

• $33,672.68  

• $34,157.04      

• $34,710.88    

What is the balance of $6000 compounded annually at a rate of 4% for 10 years?

• $8,881.47

• $7,432.93

• $8,400

• $6,500