Growth vs Decay Exponential Word Problems

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)

P = 8(1.23)^t

What is the growth rate?

Write as a percent!

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

It is estimated that the population of the world is increasing at an average annual rate of 1.3%. If the 2008 population was about 6,641,000,000 predict the 2020 population.

• 7,453,435,556 people

• 6,745,343,556 people

• 7,754,375,446 people

• 2,878,556,791 people

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

You buy a new computer for $2100. The computer decreases by 50% annually. How much is it worth after 2 years.

• $225

• $325

• $425

• $525

What is the initial value for the function: f(x) = 300(1.16)^x?

• 300

• 1.16

• .16

• x

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

Classify the model as Exponential GROWTH or DECAY.
A=1200(.85)⁶

• Growth

• Decay

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

• Growth

• Decay