1.
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?
A.
$258,000
B.
$234,000
C.
$242,000
D.
$250,000
Hint
2.
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?
A.
$1120.00
B.
$1124.86
C.
$1127.27
D.
$1010.03
Hint
3.
If a $5000 piece of equipment looses value at a rate of 5% per year, how much will it be worth after 5 years?
A.
$4011.62
B.
$3868.90
C.
$4279.35
D.
$6381.41
Hint
4.
Nancy invests $100 in one account for ten years at a 9% interest rate compounded annually, and she invests $150 in an account for 10 years at a 6% interest rate compounded semi-annually. How much money will she have in the accounts after 10 years?
A.
$236.74
B.
$507.65
C.
$270.92
D.
$505.36
Hint
5.
Suppose Tyler sprayed around the house for ants. Which formula would be used to find the number of ants still alive after a certain time if the number of ants was changing exponentially?
A.
compound interest
B.
cannot be determined from given information
C.
exponential growth
D.
exponential decay
Hint