Exponential Functions Applications

Andy buys a piece of artwork for $2,200 that is expected to appreciate (increase in value) by 9.2% each year. Find the model for the value of the artwork after n years.

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Andy buys a piece of artwork for $2,200 that is expected to appreciate (increase in value) by 9.2% each year. What is the value of the artwork in 8 years?

• $2,956.32

• $2,965.23

• $4,448.39

• $4,346.65

The Tasmanian Devil population is declining due to disease. If the population is 800 in a given area and is declining by 15% per year, what is the exponential function that models this phenomenon?

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The Tasmanian Devil population is declining due to disease. If the population is 800 in a given area and is declining by 15% per year, what is the projected population in 20 years?

• 5

• 31

• 323

• 332

Alan deposits $100 and leaves it for twenty periods in an account which earns 4 percent per period. How much will be in the account at the end of 20 periods?

• $179.58

• $180.04

• $180

• $219.11

Alan deposits $100 and leaves it for twenty periods in an account which earns 4 percent per period. How much will be in the account at the end of 50 periods?

• $709.76

• $710.67

• $709.67

• $709.17

Invest $5,000 in stock whose expected annual rate of return is 8.2 percent. How much will you have at the end of ten years?

• $10,995.17

• $5820

• $10,996.19

• $10,999.18

A 2025 GMC Sierra Denali Ultimate 6.2L V8 Crew Cab has an MSRP from $84,200 and a depreciation rate of 14.51% a year. What will be the value of the vehicle in 2030?

• $38,449.32

• $28,323.47

• $25,856.13

• $27,566.33

The population of a city grows 14.8% each year. If the town started 10 years ago and today there are 15700 people, how many people were there when the town started?

• 3229

• 3564

• 3290

• 3949

A financial instrument is expected to pay $5,000 in ten years. The interest rate available today is 10%. What would be the amount that would have to be invested to obtain $5,000 in ten years?

• $1,856

• $1,928

• $1,865

• $958.32