Personal Finance Q3 DCA Review

You are planning to save $30,000 for a down payment on a house in 7 years. Assuming an average annual return of 5% on your investments, which formula would you use to determine the present value you need to invest?

Which of the following exponential functions represents an initial value of 1450 and a decay of 18% for x years?

You wish to accumulate $50,000 for a retirement fund in 15 years. Assuming an average annual return of 6% on your investments, which formula would you use to determine the present value you need to invest?

In March, 2020, before the Covid-19 lockdown, 1,200,000 Texans had applied for unemployment. During the COVID-19 lockdown, the number of people applying for unemployment increased by 4% each month. What exponential function can be used to find the number of people applying for unemployment after x months of COVID-19 lockdown?​

• 10380.91

• $11612.92

• 14387.11

• 10125.65

• $3037.69

• $3484.85

• $3091.25

• $4034.67

• $9570.62

• $9963.60

• $8147.68

• $9424.55

• Growing by 10% with every unit of x.

• Decaying by 90% with every unit of x.

• Decaying by 10% with every unit of x.

• Growing by 90% with every unit of x.

• Decaying by 20% with every unit of x.

• Growing by 20% with every unit of x.

• Growing by 80% with every unit of x.

• Decaying by 80% with every unit of x.

• Growing by 5% with every unit of x.

• Decaying by 95% with every unit of x.

• Decaying by 5% with every unit of x.

• Growing by 95% with every unit of x.