Exponent Growth Interest

a function that can be described by an equation of the form
y = a^x, where a > 0 and a ≠ 1

• exponential function

• geometric sequence

• common ratio

• cube root

when an initial amount increases by the same percent over a given period of time

• exponential decay

• recursive formula

• exponential growth

• rational exponent

a special application of exponential growth; interest in the next period is then earned on the principal sum plus previously-accumulated interest.

• n^th root

• compound interest

• rational exponent

• geometric sequence

• rational exponent
• exponential equation
• geometric sequence
• common ratio

Determine if the function represents exponential growth or exponential decay.

Identify the percent rate of change.

• exponential growth

  r = 88%

• exponential growth

  r = 8.8%

• exponential decay

  r = 8.8%

• exponential decay

  r = 12%

Which type of function does the table represent?

• exponential growth

• exponential decay

• linear growth

• none of these

What concept is represented by P in the formula?

• past years

• prime interest

• principle amount

Name the formula.

• exponential growth

• exponential decay

• compound interest

• principal interest

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