Exponential Growth Word Problems

Annual sales for a fast food restaurant are $650,000 and are increasing at a rate of 4% per year. Use an exponential function to find the annual sales after 7 years.

Round to two decimal places (like dollars and cents).

The population of a school is 800 students and is increasing at a rate of 2% per year. Use an exponential function to find the population of the school after 9 years.

Round to the nearest whole number.

During a certain period of time, about 70 northern sea otters had an annual growth of 18%. Use an exponential function to find the number of sea otters after 4 years.

Round to the nearest whole number.

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).

A newly launched clothing line is rapidly increasing in popularity. Every month, 20% more items of clothing are sold. If 89,090 items were sold this month, how many will be sold in 9 months from now? If necessary, round your answer to nearest whole number.

• 74,278 items.

• 11,957 items.

• 319,226 items.

• 459,685 items.

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

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

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

Twenty years ago, Mr. Davis purchased his home for $160,000. Since then, the value of the home has increased about 5% per year. How much is the home worth today?

• $176,783.29

• $424,527.63

• $57,357.75

• $532,041,076.80

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

• 300

• 1.16

• .16

• x