Exponential Functions and Evaluating

You have inherited land that was purchased for $30,000 in 1960. The value of the land increased by approximately 5% per year. What is the approximate value of the land in the year 2011?

• $361,223

• $310,500

• $150,000

• $280,500

What type of function is the graph above?

• Linear 

• Quadratic

• Exponential 

• None

• 125

• 25

Evaluate the function for the given value: f\left(x\right)=6\ •\ 2^x for x = 3