Exponential Growth & Decay and Compound Interest

An investment of $500 earns 3% interest compounded monthly. Find how many years it will take for the account to be $800.

• 15.95 years

• 15.69 years

• 15.90 years

• 15.72 years

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.B.5

CCSS.HSF.LE.A.4

How long will it take for the value of an initial investment of $1200 compounded continuously at a 5.6% interest rate to reach $2000.

• 9.57 years

• 9.04 years

• 9.12 years

• .091 years

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.B.5

CCSS.HSF.LE.A.4

An initial investment of $1000 is deposited in an account with a 1.2% interest rate, compounded quarterly. Find the value after 15 years.

• $1045.96

• $1196.89

• $15180.81

• $5891.60

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

An initial investment of $1000 is deposited in an account with a 1.2% interest rate, compounded annually. In how many years will the account reach $1500?

• 34.04 years

• 33.99 years

• 3.72 years

• 3.58 years

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.4

An initial investment of $800 is compounded continuously at a 2.5% interest rate. Find the value after 10 years.

• $1027.22

• $9746

• $1024.07

• $876.70

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5

The population of armadillos is increasing by 3.1% per year. The initial population is 4000 armadillos. Find the number of years it will take to reach 5000.

• 7.31 years

• 7.44 years

• 6.91 years

• 7.98 years

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.A.4

The population of armadillos is increasing by 3.1% per year. The initial population is 4000 armadillos. Find the number of armadillos in 9 years

• 45447 armadillos

• 5265 armadillos

• 5219 armadillos

• 105758489 armadillos

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.BF.A.2

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

The value of a car purchased for $15,000 is decreasing at 19% per year. Find the value of the car in 5 years.

• $3579.53

• 3.71 years

• $35795.30

• $5230.18

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5

The value of a car purchased for $15,000 is decreasing at 19% per year. When will the car be worth $2000?

• never

• 9.0426 years

• 9.5744 years

• 9.5619 years

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2