EOC Competition Flashcard #2 A2B

Front

What is the formula for exponential growth?

Back

The formula for exponential growth is f(x) = a(1 + r)^x, where 'a' is the initial amount, 'r' is the growth rate, and 'x' is the time period.

Front

What is the formula for exponential decay?

Back

The formula for exponential decay is y = a(1 - r)^t, where 'a' is the initial amount, 'r' is the decay rate, and 't' is the time period.

Front

What is a horizontal asymptote?

Back

A horizontal asymptote is a horizontal line that the graph of a function approaches as x approaches positive or negative infinity.

Front

How do you calculate compound interest?

Back

Compound interest can be calculated using the formula A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, P is the principal amount, r is the annual interest rate, n is the number of times that interest is compounded per year, and t is the number of years.

Front

What is continuous compounding?

Back

Continuous compounding refers to the process of earning interest on both the initial principal and the interest that has been added to it, calculated using the formula A = Pe^(rt), where e is Euler's number.

Front

What is the value of e (Euler's number)?

Back

Euler's number, denoted as e, is approximately equal to 2.71828.

Front

What is the significance of the base in exponential functions?

Back

The base in exponential functions determines the rate of growth or decay; a base greater than 1 indicates growth, while a base between 0 and 1 indicates decay.

Front

How do you find the future value of an investment compounded quarterly?

Back

To find the future value of an investment compounded quarterly, use the formula A = P(1 + r/4)^(4t), where P is the principal, r is the annual interest rate, and t is the number of years.

Front

What is the difference between simple interest and compound interest?

Back

Simple interest is calculated only on the principal amount, while compound interest is calculated on the principal plus any interest that has already been added.

Front

What is the formula for calculating the population after a certain number of years with a percentage decrease?

Back

The formula is P = P0(1 - r)^t, where P0 is the initial population, r is the rate of decrease, and t is the number of years.