Exponential Growth and Compound Interest

More and more people are purchasing food from farmers' markets. As a consequence, a market researcher predicts that the number of farmers' markets will increase by 15% each year. If there are 6,200 farmers' markets this year, how many will there be in 10 years? (Round to the nearest whole number if necessary).

• 25,082

• 12,937

• 62,000

• 43,511

Olivia 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.

• $15,415.94

• $15,683.28

• $15,927.56

• $16,109.05

Is y = 5(1.04)^x growth or decay?

• growth

• Decay

A collectible car has been going up in price by 10% each year. If the car is already worth $29,000, how much will the car be worth in 5 years?

• 46,704.79

• 38,246.28

• 51,248.84

• 49,283.93

Mathematical Equivalence

ON

Wyatt invested $8,000 into an account that earns 10% interest. How much money will he have in 15 years if the interest is compounded quarterly? Round to 2 Decimal places and NO dollar sign($).

Mathematical Equivalence

ON

Mathematical Equivalence

ON

Mathematical Equivalence

ON

Mathematical Equivalence

ON

Mathematical Equivalence

ON