Application of Exponential Function

A new savings account is opened with $400 and gains 3% every year. What is the exponential function?

• f(x)=400(1+3)^x

• f(x)=400(1-0.03)^x

• f(x)=400(1+0.03)^x

• f(x)=400(0.03)^x

The number of mosquitoes at the beginning of the summer was 4,000. The population of mosquitoes is expected to grow at a rate of 25% a month. How many mosquitoes will there be after 4 months?

• 9784 mosquitoes

• 9006 mosquitoes

• 9765 mosquitoes

• 5433 mosquitoes

Classify the model as Exponential GROWTH or DECAY.
A=10(1.01)³

• Growth

• Decay

Classify the model as Exponential GROWTH or DECAY.
A=1200(.85)⁶

• Growth

• Decay

Which of the following functions shows an initial amount of $15 and an increase of 35% each year?

• y = 15(35)^x

• y = 15(1.35)^x

• y = 15(0.35)^x

• y = 35(1.15)^x

Emily's parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semi-annually, what will be the balance after 18 years?

• $6,273.50

• $6,314.08

• $6,385.72

• $6,427.94

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

Which investment would have a larger balance after 5 years?

• Option 1 - 4% compounded monthly

• Option 2 - 4% compounded daily.

James has 70 inches giant peach tree that doubles in size every month. Write a function that models how big the peach tree will be after 2 years.

• y = 70(2)²⁴

• y = 70(2)¹²

• y = 2(70)²

• 70 = a (2)¹²

Daniel’s Print Shop purchased a new printer for $35,000. Each year it depreciates at a rate of 5%. How long will it take for the printer's value to be under $20,000?

• 1 year

• 11 years

• 10 years

• 4 years