Exponential Growth or Decay Word Problems

What is the DECAY rate? Write as a percent! CAREFUL!!!

You start an account with $500 and an interest rate of 6% compounded yearly. How much is in the account after 3 years?

Round to the nearest cent. (two decimal places)

From 2000 - 2010 a city had a 2.5% annual decrease in population. If the city had 2,950,000 people in 2000, determine the city’s population in 2008.

Round to the nearest..... (these are people)... so whole number!

You buy a car for $8000 that depreciates at a rate of 11% a year. How much is the car worth after 5 years?

Round to the nearest cent. (two decimal places)

What is the growth rate? Write as a percent!

P = 8(1.23)^t

Is the function growth or decay?

Check the box:

• Growth

• Decay

3.1(0.78)^t

Is the function growth or decay?

Check the box:

• Growth

• Decay

A population of a city is 422,000 and increases by 12% each year. Use an exponential function to find the population of the city after 8 years.

• 100,144 people

• 1,083,024 people

• 1,044,856 people

• 200,000 people

Nathan bought a VERY fancy boat for about $125,000. If the boat's value depreciates at the rate of 15% per year, what is the value of the boat at the end of 10 years?

• $12,512.50

• $18,750

• $24,609.30

• $505,694.72

Gasoline costs $1.99 per gallon. If the price per gallon increases an average of 6% per month, which function models the exponential growth of the pricing?

• 1.06(1.99)^t

• 1.99(1.06)^t

• [1.06(1.99)]^t

• 1.99(.94)^t