Exponential Functions Application Problems

The population of Pallet Town increases by 15% every year. If there are currently 190,000 people living there, what will be the population in 13 years?

If necessary, round your answer to the nearest whole number.

• 4 people.

• 22,972 people.

• 1,169,030 people.

• 1,188,311 people.

Suppose a culture of bacteria begins with 5000 cells and dies by 30% each year. Write an equation that represents this situation.

• y=5000(0.7)^x

• y=30(5000)^x

• y=5000(1.3)^x

• y=5000x^x

Which of the following functions shows an initial amount of $15 and an increase of 35% each year?

• y = 15(35)^x

• y = 15(1.35)^x

• y = 15(0.35)^x

• y = 35(1.15)^x

The value of a car is $15,000 and depreciates at a rate of 8% per year. What is the decay factor?

• ^.08

• ^1.08

• .92

• 8

The value of a car purchased for $20,000 decreases at a rate of 12% per year. What will be the value of the car after 3 years?

• $12,800.00

• $13,629.44

• $17,600.00

• $28,098.56

Ash has $8,000 in a savings account. The interest rate is 3% compounded once a year.

To the nearest cent, how much will he have in his account in 4 years?

• $9,004.07

• $2,2848.80

• $9,011.94

• $8,242.71

A sailboat that costs $5,950 decreases in value by 11% per year. How much will the boat be worth after 6 years?

• $5,884.00

• $5,178.97

• $2,992.96

• $2,957.04

Katy deposited $90 in a savings account earning 5% interest, compounded quarterly. Which of the following equations could represent the amount of money in her account yearly?

• 
• 
• 
• 

Derrick has $1,000 in a savings account that ears 15% interest, compounded monthly. To the nearest cent, how much will he have in 2 years?

• $5,350.25

• $1,322.50

• $1,025.16

• $1,347.35

The population of Hickory NC, can be modeled by P=6191(1.04)t where t is the number of years since 1995. What was the population in 1995?

• 6191

• 1

• 1995

• 1.04