Question 1

Alice invests $5,000 in an account offering 2% interest compounded continuously.
Find the value of the account after 6 years. Round your answer to the nearest cent.

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Question 2

Alice invests $8,000 in an account offering 6% interest compounded continuously.
How many years until the account value reaches $10,000? Round your answer to the nearest year.

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Question 3

Alice invests $9,000 in an account offering 5.5% interest compounded continuously.
A) Find the value of the account after 5 years. Round your answer to the nearest cent.
B) How many years until the account value reaches $23,000? Round your answer to the nearest year.

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Question 4

Determine whether the function models continuous growth or decay. 
A) Growth
B) Decay

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Question 5

Find a by converting  to a.
  
Round your answer to 2 decimal places.

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...

Question 6

Find A) the continuous growth factor and B) the effective growth factor from the function, 
  
Write your answers as percents rounded to 2 decimal places, like 23.75%.

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Question 7

The deer population in Potter County has a continuous growth rate of 7.6% a year. If the deer population was 760 in 2007, find a function that gives the deer population, P, as a function of the years after 2007, y, (Write your answer in  form.)

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Question 8

The deer population in Potter County has a continuous growth rate of 5.7% a year. If the deer population was 410 in 2007, find:
A) a function that gives the deer population, P, as a function of the years after 2007, y, (Write your answer in  form.) and,
B) use the function to find the deer population of Potter County in 2016. Round your answer to the nearest deer.

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Question 9

Find the value of this expression to 4 decimal places.

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Question 10

If $6,775 is invested at 4.5%, how much more would you have after 19 years if the interest was compounded continuously compared to compounded monthly?

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Question 11

If $3,571 is invested at 2.9%, how much more would you have after 14 years if the interest was compounded monthly compared to compounded quarterly?

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Question 12

If $9,451 is invested at 4.5%, how much more would you have after 18 years if the interest was compounded continuously compared to compounded quarterly?

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Question 13

Pat recently inherited a large amount of money and wants to put some away for her child's college education. Pat figures her daughter will need $28,000 for college at age 18. Her daughter is now 8 years old and Pat can invest the money at 11.1% compounded annually. How much should Pat invest now to reach her goal? (Round the answer to the nearest penny.)

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Question 14

Pat recently inherited a large amount of money and wants to put some away for her child's college education. Pat figures her daughter will need $40,000 for college at age 18. Her daughter is now 12 years old and Pat can invest the money at 10.3% compounded Continuously. How much should Pat invest now to reach her goal? (Round the answer to the nearest penny.)

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Question 15

Determine the doubling time for money invested at 6.7% interest compounded quarterly. Round the answer to the nearest tenth of a year.

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Question 16

Determine the doubling time for money invested at 5.9% interest compounded continuously. Round the answer to the nearest tenth of a year.

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Question 17

The city of Carslynn, WI, expects the city budget to double every 34 years. What is the expected annual percent increase in the budget? Round the answer to the nearest hundredth of a percent.

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Question 18

The price of a new car increases by 21% every 5 years. What is the annual percent increase? Round to the nearest hundredth of a percent.

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Question 19

The price of a new car increases by 19% every 6 years. How much would a car that sells for $24,474 today, sell for in 9 years? Round to the nearest penny.

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Question 20

You have $4,000 to invest for 4 years. Two investment options are presented to you: I). 5.5% interest compounded monthly, or II). 6.8% interest compounded annually.
A) Which option will give a better return?
B) How much more interest will be earned under this option?
 (Round the answer to the nearest penny.)

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Quiz 5: Growth and Decay: An Introduction to Exponential Functions

Alice invests $5,000 in an account offering 2% interest compounded continuously. Find the value of the account after 6 years. Round your answer to the nearest cent.

Alice invests $8,000 in an account offering 6% interest compounded continuously. How many years until the account value reaches $10,000? Round your answer to the nearest year.

Alice invests $9,000 in an account offering 5.5% interest compounded continuously. A) Find the value of the account after 5 years. Round your answer to the nearest cent. B) How many years until the account value reaches $23,000? Round your answer to the nearest year.

Determine whether the function models continuous growth or decay.

Find a by converting to a. Round your answer to 2 decimal places.

Find A) the continuous growth factor and B) the effective growth factor from the function, Write your answers as percents rounded to 2 decimal places, like 23.75%.

The deer population in Potter County has a continuous growth rate of 7.6% a year. If the deer population was 760 in 2007, find a function that gives the deer population, P, as a function of the years after 2007, y, (Write your answer in form.)