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WorksheetsFCHS Unit 9 Bank Problems
Total questions: 15
Worksheet time: 29mins
Name
Class
Date
1.
Change 6.75% to a decimal.
a)
67.5
b)
.675
c)
675
d)
.0675
2.
Which of the following functions shows an initial amount of $15 and an increase of 35% each year?
a)
y = 15(35)x
b)
y = 15(1.35)x
c)
y = 15(0.35)x
d)
y = 35(1.15)x
3.
Jackie has $60 in a savings account that earns 5% interest, compounded annually.
What is the multiplier in this problem?
What is the multiplier in this problem?
a)
.5
b)
1.5
c)
.05
d)
1.05
4.
What is a, the starting term, for the function: f(x) = 300(1.16)x?
a)
300
b)
1.16
c)
.16
d)
x
5.
Suppose a culture of bacteria begins with 5000 cells and dies by 30% each year. Write an equation that represents this situation.
a)
y=5000(0.7)x
b)
y=30(5000)x
c)
y=5000(1.3)x
d)
y=5000xx
6.
The value of a car is $15,000 and depreciates at a rate of 8% per year. What is the exponential equation?
a)
y=8(15,000)x
b)
y=15,000(1.08)x
c)
y=15,000(0.92)x
d)
y=15,000(0.08)x
7.
James' 70 in. giant peach doubles in size every week. Write an expression that would represent how big the peach is after 5 weeks.
a)
70(2)35
b)
70(2)5
c)
2(70)5
d)
5(70)2
8.
Find the account balance if $10,000 is compounded continuously at 8% for 3 years.
a)
$15,207.10
b)
$12,708.09
c)
$12,712.49
d)
$11, 556.23
9.
An adult takes 400 mg of ibuprofen. Each hour, the amount of ibuprofen in the person’s system decreases by about 29%.
What is the multiplier for this problem?
What is the multiplier for this problem?
a)
1.29
b)
.71
c)
.29
d)
1.71
10.
Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?
a)
$827.52
b)
$831.10
c)
$839.45
d)
$846.80
11.
Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
a)
$150.00
b)
$192.32
c)
$1350.52
d)
$1399.68
12.
Olivia 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 borrowed $7,400, how much total will she pay back after 8 years.
a)
$15,415.94
b)
$15,683.28
c)
$15,927.56
d)
$16,109.05
13.
If $1,000 is invested at 16% interest, compounded continuously, for five years, what is the ending balance?
a)
$1,225,54
b)
$2,225.54
c)
$22,255.40
d)
$225.54
14.
A colony of termites is growing continuously at a rate of 6.2% monthly. If the colony starts with 500, how many would there be in one year?
a)
1.02 E 35 (huge amount)
b)
1052
c)
246375
d)
532
15.
The exponential function f(x)=125,000⋅(0.98)x models the value of Eric's home (where x represents the number of years since he purchased it). Which statement is true about the value of Eric's home?
a)
Eric's home is decreasing in value by 2% each year.
b)
Erica home is increasing in value by 0.98% each year.
c)
Eric's home is decreasing in value by 0.98% each year.
d)
Eric's home is increasing in value by 9.8% each year.
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