Exponential Functions and Compound Interest

James' 70 in. giant peach doubles in size every week. Write an equation that would represent how big the peach is after 5 weeks.

• y = 70(2)³⁵

• y = 70(2)⁵

• y = 2(70)⁵

• y = 5(70)²

A college receives a donation of $955,000 that earns 5.33% interest compounded daily. How much interest would the college earn in one year?

• $52,278.53

• $50,901.50

• $1,005,901.50

• $1,007,278.53

Write an equation that models the following situation:
Samantha's hair was known to grow very rapidly. It began at a length of 6 in and grew at a rate of 14% a week.

• y=6(0.14)^x

• y=6(1+14)^x

• y=6(1.14)^x

• y=6(0.86)^x

Principal: $5000
Interest Rate: 3.75%
Time: 25 years
Compounded Monthly
State the future account balance.

• $12712.31

• $12,749.30

• $12,657.59

• $12550.84

Will deposits $1650 for three years at 3% interest, compounded daily. What is his ending balance?

• $1,700.25

• $4,056.85

• $2,103.87

• $1,805.38

The Henley's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate compounded annually,how much interest will they  have paid after 30 years?

• $412,749.79    

• $429,305.61          

• $471,259.24

• $494,546.99

If you are opening a savings account, is it better to have interest compounded daily or quarterly at 7%?

• Daily - so you earn money more often

• Quarterly - so you earn money less often

• who knows

• I need to consult my financial analyst

Which of the following is an exponential function?

• y = x²

• f(x) = 3x³

• y = x³

• f(x) = 3^x

What is the starting amount in the problem below?

• 300

• 1.05

• t

• y

What is the growth rate in the problem below?

f(t) = 300(1.05)^t

• 300

• 1.05

• t

• y