Compound Interest and Exponential Functions

McGee won a cat competition that had given him the 1st place reward of 400.00 dollars. Mr. Orso took McGee to the bank to get McGee an account with a 10% continuously compounded interest rate when depositing the 400 dollars. How much money will McGee have after 1 year of that investment? (Round to the nearest dollar)

• $450

• $109

• $442

• $115

Given the graphed exponential function, which ordered pair represents the y-intercept?

• (2,0)

• (0,2)

• (-4,0)

• (0, -4)

Tags

CCSS.HSF-IF.C.7E

• Growth, because the factor term is greater than 1

• Growth, because the factor term is less than 1

• Decay, because the factor term is greater than 1

• Decay, because the factor term is less than 1

Tags

CCSS.HSF-IF.C.8B

Would Euler's Number, e, be considered a variable or constant?

• Variable, because it's a letter and letters in math are variables.

• Constant, because Euler's number has a set value of approximately 2.718281

Find the balance in the account after the given period.

$5000 deposit earning 1.5% compounded quarterly after 3 years

• $5,229.70

• $7,604.38

• $7,777.27

• $5,538.86

Matt earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually (n=1). What will be his balance after 15 year?

• $827.52

• $831.10

• $839.45

• $846.80

$6500 is invested in a bank account that earns 2.6% interest, compounded monthly. Write an expession that represents the amount of money in the accout after 5 years.

Mathematical Equivalence

ON

Emily 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. (Round your answer to the nearest hundredth, because it is money.)

Mathematical Equivalence

ON

• number of years since opening account

• compound

• the principal amount of money in the acc

• 1000

• the type of interest being earned

• t

• the rate of interest earned

• 40%

Tags

CCSS.HSF.LE.B.5

Jehreece has returned home from college and has been saving up money ever since he was a freshman in college. He invested a principal of $2050 into an account with a 4% rate of interest. How much would his balance be after 6 years? (Round to the nearest dollar)

• $2606

• $2250

• $2860

• $2406

Tags

CCSS.HSF.BF.A.2