Continuous Growth and Decay Word Problems

Twenty years ago, Mr. Davis purchased his home for $160,000. Since then, the value of the home has increased about 5% per year. Use an exponential function to find the value of the home today.

Round to two decimal places (like money).

Marburn has 80 total students in our High School. It is projected to grow at rate of 2% every year. How many students will be in the High School in 5 years from now?

• 72.3 students

• 88.3 students

• 199.1 students

• 80 students

The population of a town is decreasing at a rate of 5% per year. This year there are 10,000 people in this town, how many people will be left in 20 years from now? (round to the nearest whole number)

• 26,533 people

• 358 people

• 1 person

• 3,585 people

Middletown High School has student elections every year. Lately, the school has seen a 5% decrease in voting from election to election. If 910 students voted this year, how many will be expected to vote 8 years from now? (Round to the nearest whole number if necessary).

• 604

• 777

• 29

• 198

More and more people are purchasing food from farmers' markets. As a consequence, a market researcher predicts that the number of farmers' markets will increase by 15% each year. If there are 6,200 farmers' markets this year, how many will there be in 10 years? (Round to the nearest whole number if necessary).

• 25,082

• 12,937

• 62,000

• 43,511

A publishing industry report predicts that magazine subscriptions will drop by 10% each year. If this prediction is correct, then how many subscribers will a magazine with 98,000 subscribers have in 10 years? (Round to the nearest whole number if necessary).

• 34,170

• 16,348

• 7690

• 76,023

The mice population is 25,000 and is decreasing by 20% each year. What will be the mice population after 3 years?

• 12,800

• 15,777

• 102, 475

• 2,500

Your new computer cost $1500 but it depreciates in value by about 18% each year. How much will your computer be worth in 6 years? (Round to the nearest cent.)

• $456.01

• $556.98

• $778.22

• $332.63

Lauren has $90 in a savings account. The interest rate is 5%, compounded annually. To the nearest cent, how much will she have in 2 years?

• $99.23

• $21.98

• $56.46

• $9.21

A cliff overlooking Oak Grove Lake is experiencing erosion, losing elevation at a rate of 5% every millennium. The cliff's current elevation is 1,200 meters. What will its elevation be in 6 millennia? (Round to the nearest whole number if necessary).

• 882

• 465

• 349

• 975