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WorksheetsCompound Interest and Exponential Growth
Total questions: 22
Worksheet time: 3hrs 33mins
Name
Class
Date
1.
What will a deposit of $4,500 at 10% compounded semiannually be worth if left in the bank for six years?
a)
a. $8,020.22
b)
b. $7,959.55
c)
c. $8,081.55
d)
d. $8,181.55
2.
Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded quarterly for three years.
a)
$4422.03
b)
$4427.62
c)
$4428.90
d)
$4429.51
3.
Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded monthly for three years.
a)
$4422.03
b)
$4427.62
c)
$4428.90
d)
$4429.51
4.
The Arnold's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually, how much total will they have paid after 30 years?
a)
$412,749.79
b)
$529.305.61
c)
$689,546.99
d)
$640,891.53
5.
Determine the balance in the account if you deposited $4,000 at an interest rate of 3.4% compounded annually for three years.
a)
$4422.03
b)
$4427.62
c)
$4428.90
d)
$4429.51
6.
Bruno was given $2000 when he turned 3 years old. His parents invested it at a 2% interest rate compounded annually. No deposits or withdrawls were made. Which expression can be used to determine how much money Bruno had in the account when he turned 16?
a)
2000(1.02)13
b)
2000(0.98)13
c)
2000(1+0.02)16
d)
2000(0.02)16
7.
Heather decides to invest $3500 into her savings account and leave it there (untouched) for 25 years. The savings account has an interest rate of 6.4% compounded quarterly. How much will she have in 25 years?
a)
$17,117.44
b)
$16,504.74
c)
$3,997.79
d)
$20,319.90
8.
Average Rate of Change means
a)
Growth Rate
b)
Slope
c)
Exponential
d)
Starting Value
9.
Emily's parents put $1,500 in her bank account for college tuition. At an interest rate of 8.25% compounded semi-annually, what will be the balance after 18 years?
a)
$6,273.50
b)
$6,314.08
c)
$6,385.72
d)
$6,427.94
10.
Andy invests $500 into an account with 4.8% interest, compounded monthly. How much will be in the account in 10 years?
a)
$799.06
b)
$520.36
c)
$807.26
d)
$877.61
11.
What is a, the starting term, for the function: f(x) = 300(1.16)x?
a)
300
b)
1.16
c)
.16
d)
x
12.
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
13.
A stamp gets more expensive each year. It increases in value by 60 % each year. What is the growth FACTOR?
a)
.6
b)
1.06
c)
1.6
d)
.4
14.
Suppose you deposit $3000 in a savings account that pays interest at an annual rate of 4%. What is the growth factor?
a)
.96
b)
1.4
c)
1.04
d)
$3000
15.
The original value of a painting is $1400, and the value increases by 9% each year. Write an exponential growth function to model this situation.
a)
y = 1400 (1.09)x
b)
y = 1.09 (1400)x
c)
y = 1400 (.91)x
d)
y = 1.09x
16.
What is the equation that represents the exponential function in the image below?
a)
y=3(½)x
b)
y=3(2)x
c)
y=(2)x
d)
y=2(3)x
17.
The number of mosquitoes at the beginning of the summer was 4,000. The population of mosquitoes is expected to grow at a rate of 25% a month. How many mosquitoes will there be after 4 months?
a)
9766
b)
9006
c)
9765
d)
5433
18.
Twenty years ago, Mr. Davis purchased his home for $160,000. Since then, the value of the home has increased about 5% per year. How much is the home worth today?
a)
$176,783.29
b)
$424,527.63
c)
$57,357.75
d)
$532,041,076.80
19.
The growth factor for this graph is
a)
1
b)
3
c)
2
d)
4
20.
The growth factor for this table is
a)
2
b)
4
c)
12
d)
144
21.
The equation for this table is
a)
y = 3x + 50
b)
y = 50x
c)
y = 3x
d)
y = 50(3x)
22.
The equation for this table is
a)
y = 25(4x)
b)
y = 4(25x)
c)
y = 4x
d)
y = 4x
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