Exponential Functions Application Problems

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

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

The amount of ants in a colony, f, that is decaying can be modeled by                      f(x) = 800(.87)^x, where x is the number of days since the decay started. By what percentage is the colony decaying?

• 87%

• 13%

• 800%

• 8.7%

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?

• $0.29

• $2,900,000,000

• $46,704.79

• $145,000

• $2677.5

• $19361.1

• $3254.52

• $6231

• 19

• 17

• 38427

• 38425

• 38

• 19

• 17

• 38427

• 38425

• 38

• 12.375 Years

• 177.073 Years

• 0.175 Years

• 17.509 Years

You invest $5,000 into a savings account that has an interest rate of 5% compounded continuously. In how many years will there be $12000 in the account?

• 12.375 Years

• 177.073 Years

• 0.175 Years

• 17.509 Years

• $2677.5

• $19361.1

• $3254.52

• $6231