1.
Which equation represents exponential decay?
A.
y
= 1.05(0.95)
x
B.
y
= 1.7(1.06)
x
C.
y
= 2.62(1.22)
x
D.
y
= 0.86(1.46)
x
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.
$1124.86
B.
$1120.00
C.
$1127.27
D.
$1010.03
Hint
3.
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?
A.
7.1%, monthly
B.
7.125%, quarterly
C.
7.2%, annually
D.
7%, daily
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.
$507.65
B.
$270.92
C.
$505.36
D.
$236.74
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.
cannot be determined from given information
B.
exponential decay
C.
compound interest
D.
exponential growth
Hint