Exponential Growth Applications

Find the balance in an account that has $300 invested at 6.5% for 4 years compounded semi-annually.

• $387.47

• $496.50

• $7,800.00

• $385.94

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

Kimi invests $4,000 at 3% interest compounded continuously. How much money will she have in 4 years?

Sumalee invests $6,227 in a savings account with a

fixed annual interest rate of 8% compounded continuously. What will the account balance be after 6 years?

• $10,685.57

• $11,011.00

• $10,369.77

• $10,063.30

Classify the model as Exponential GROWTH or DECAY.
A=10(1.01)³

• Growth

• Decay

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

• 70(2)³⁵

• 70(2)⁵

• 2(70)⁵

• 5(70)²

The number of mosquitoes at the beginning of the summer was 4,000. The population of mosquitoes is expected to grow at a rate of 25% a month. How many mosquitoes will there be after 4 months?

• 9766

• 9006

• 9765

• 5433

What does the a in y=a(1+r)^x  represent?

• Time

• Rate

• Slope

• Initial Amount