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1. |
Which equation represents exponential decay? |
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A. |
y = 1.05(0.95)x |
B. |
y = 1.7(1.06)x |
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C. |
y = 2.62(1.22)x |
D. |
y = 0.86(1.46)x |
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Hint |
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2. |
The Mendoza family just bought a house for $180,000. If the value of the house increases at a rate of 3% per year, about how much will it be worth in 10 years? |
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A. |
$258,000 |
B. |
$234,000 |
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C. |
$250,000 |
D. |
$242,000 |
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Hint |
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3. |
Twyla puts $1000 in a savings account that pays 4% interest, compounded monthly. How much money will be in the account 3 years later if she makes no more deposits? |
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A. |
$1010.03 |
B. |
$1124.86 |
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C. |
$1120.00 |
D. |
$1127.27 |
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Hint |
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4. |
If a $5000 piece of equipment looses value at a rate of 5% per year, how much will it be worth after 5 years? |
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A. |
$6381.41 |
B. |
$3868.90 |
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C. |
$4279.35 |
D. |
$4011.62 |
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Hint |
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5. |
Lance is planning to invest $5000 for a period of 3 years. He has a choice of four different investments. Which of the combinations of interest rates and compounding below will earn the most money? |
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A. |
7.1%, monthly |
B. |
7.125%, quarterly |
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C. |
7.2%, annually |
D. |
7%, daily |
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Hint |
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