Exponential Growth & Decay Models

The price of tuition at Murphy College has been rising at an average rate of 6% per year. Brytani plans to begin attending Murphy full time in 7 years. If full tuition is currently $4,312, how much should she expect to spend on tuition when she begins?

What equation models this?

• None of these answers are correct

The price of tuition at Murphy College has been rising at an average rate of 6% per year. Brytani plans to begin attending Murphy full time in 7 years. If full tuition is currently $4,312, how much should she expect to spend on tuition when she begins?

Round to the nearest cent.

Mathematical Equivalence

ON

Today the population of Downtown is 20,000 and over many years, people have been moving away from Downtown at a rate of 1.5% every year. What will the estimated population be in 2035? Round to the nearest person.

Which equation models this situation?

Today the population of Downtown is 20,000 and over many years, people have been moving away from Downtown at a rate of 1.5% every year. What will the estimated population be in 2035? Round to the nearest person.

Mathematical Equivalence

ON

You invested $500 in a savings account that pays 3.2% interest each year. How much money will be in the account after 5 years if no deposits or withdrawals take place during that time? Round to the nearest cent.

Mathematical Equivalence

ON

Attendance at Bingo Night has been decreasing at a rate of 1.3% per year. This year, 780 people attended Bingo Night. If the rate of decrease continues, in approximately how many years will 700 people attend Bingo Night?

• 5 years

• 6 years

• 7 years

• 8 years