Exploring Exponential Growth: Real-Life Applications

A bank offers a savings account with an annual interest rate of 5% compounded annually. If you deposit $1,000, how much money will you have in the account after 3 years?

• 1200.00

• 1100.50

• 1157.63

• 1050.75

A population of bacteria doubles every 4 hours. If you start with 500 bacteria, how many will there be after 12 hours?

• 2000

• 1000

• 8000

• 4000

You invest $2,000 in a fund that earns 6% interest compounded quarterly. How much will you have after 5 years?

• 2500.00

• 2800.50

• 2693.71

• 3000.00

A car's value decreases by 15% each year. If the car was originally worth $20,000, what will its value be after 2 years?

• $16,000

• $18,000

• $14,450

• $12,000

A certain investment grows according to the model A(t) = 1500(1.04)^t, where A is the amount in dollars and t is the time in years. How much will the investment be worth after 10 years?

• 2220.36

• 2000.75

• 2500.50

• 1800.00

A tree grows at a rate of 10% per year. If the tree is currently 3 feet tall, how tall will it be after 5 years?

• 5.00 feet

• 6.00 feet

• 3.30 feet

• 4.83 feet

You take out a loan of $5,000 with an interest rate of 8% compounded annually. How much will you owe after 4 years?

• 6000.00

• 7500.00

• 5000.00

• 6802.45

A certain species of fish in a lake is estimated to grow exponentially. If the current population is 1,200 and it doubles every year, what will the population be in 3 years?

• 4800

• 2400

• 9600

• 7200

If you invest $1,500 in a savings account that offers 3% interest compounded monthly, how much will you have after 2 years?

• 1592.52

• 1550.75

• 1620.00

• 1500.00

A city’s population is currently 50,000 and is expected to grow at a rate of 2% per year. What will the population be in 5 years?

• 55204

• 60000

• 57000

• 54000