Solving Exponential Equations and Compound Interest

Emily 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

In the compound interest formula A=P(1+r)^t what does the A stand for?

• The amount of interest

• The total final amount

• The interest rate

• The time

Principal: $5000

Interest Rate: 3.75%

Time: 25 years

Compounded Monthly

State the ending account balance.

• $12712.31

• $12,749.30

• $12,657.59

• $12550.84

Solve 3³ = 3^{4x + 2}

• x = ¼

• x = -¼

• x = ½

• x = -½

Solve: 9^8-x = 27^x-3

• x = 5

• x = -5

• x = 1/5

• x = -1/5

To solve 36 = 6^x, re-write 36 as what base and exponent?

• 3⁶

• 6³

• 6²

• 3¹²

Solve for n:
2^-2n = 2⁶

• -1

• -7

• 5

• -3

You want to save $5,000 for future family vacation. If you assume you can get an interest rate of 4.3% compounded monthly, then how much will you need to invest NOW to reach your vacation goal in 3 years?

• $307,042,791

• $5,000

• $3,250

• $4,395.89

Solve 8 = 2^5x+7

• ⅘

• ¼

• -⅘

• -¼

How long will it take $3000 to double if it is invested in an account that pays 3% compounded continuously?

• 23.1 years

• 22.1 years

• 21.1 years

• 20.1 years