Exponential Functions and Compound Interest

The video tutorial covers solving word problems involving exponential equations. It begins with an introduction to exponential word problems and explains the general exponential formula, including its components like initial amount, rate, and time. The tutorial then demonstrates solving compound interest problems, bacterial growth problems, and applies exponential equations to Moore's Law for transistor growth. Each section provides step-by-step guidance on using the exponential formula to find unknown variables, emphasizing real-world applications and problem-solving techniques.

What is the first step in solving word problems involving exponential equations?

• Identify the variables

• Determine the time period

• Find the exponential equation

• Calculate the final amount

In the general exponential formula, what does 'P' represent?

• Time period

• Final amount

• Rate of growth

• Initial amount

What is the value of 'e' in the exponential formula?

• 2.718

• 1.618

• 0.577

• 3.142

In the context of exponential equations, what does 'T' typically represent?

• Time

• Total amount

• Temperature

• Tax rate

In the compound interest problem, what was the initial deposit amount?

• $500

• $2,000

• $1,000

• $1,500

What was the final amount the investment grew to in the compound interest problem?

• $1,400

• $1,100

• $1,300

• $1,200

How long did it take for the investment to grow to the final amount in the compound interest problem?

• 5 years

• 4 years

• 3.64 years

• 2 years

In the second compound interest problem, what was the initial deposit amount?

• $3,000

• $2,000

• $4,000

• $5,000

What was the final amount the investment grew to in the second compound interest problem?

• $6,000

• $7,000

• $8,000

• $9,000

What was the interest rate found in the second compound interest problem?

• 10%

• 11%

• 12%

• 13%