Exponential Growth Compound Interest

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

After 80 years of 5.8% interest compounded monthly, an account has $102,393.44.  What was the original deposit amount?

• $10,484,416.76

• $1000

• $93,13770.87

• $1125.69

The initial population of a town is 5000 people. After one year, the population is 5150. What exponential function models the expected population? What is the population after 10 years?

Bruno was given $2000 when he turned 3 years old.  His parents invested it at a 2% interest rate compounded annually.  No deposits or withdrawls were made.  Which expression can be used to determine how much money Bruno had in the account when he turned 16? 

• 2000(1+0.02)¹³

• 2000(1-0.02)¹³

• 2000(1+0.02)¹⁶

• 2000(1-0.02)¹⁶

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 + 0.35)^x

• y = 15(0.35)^x

• y = 35(1+ 0.15)^x

Write an equation that models the following situation:

Samantha's hair was known to grow very rapidly. It began at a length of 6 in and grew at a rate of 14% a week.

• y=6(0.14)^x

• y=6(1+14)^x

• y=6(1+ 0.14)^x

• y=6(1 - 0.14)^x

Caiden deposited $475 in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

• $827.52

• $831.10

• $839.45

• $846.80

Audrey deposited $2,800 in a

savings account that pays 2.65% interest compounded annually.

What is the total value of the account after 7 years?

• $562.57

• $3362.57

• $14,514.15

• $2,569,680

Jacob borrows $500 from Abraham and agrees to have the loan compounded annually for 5 years with an interest rate of 2.5%. How much will the total amount be that Jacob owes?

• $565.70

• $262609.38

• $65.70

• $630.20