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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. |
$250,000 |
B. |
$258,000 |
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C. |
$242,000 |
D. |
$234,000 |
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Hint |
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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? |
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A. |
7.1%, monthly |
B. |
7.2%, annually |
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C. |
7.125%, quarterly |
D. |
7%, daily |
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Hint |
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4. |
Ricky invested $1000 in an account at 8% interest compounded quarterly. How much money will he have earned on the account after 7 years? |
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A. |
$1,741.02 |
B. |
$741.02 |
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C. |
$713.82 |
D. |
$1,713.82 |
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Hint |
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5. |
Suppose inflation of money is at a rate of 3% per year in the United States. How much will a $1 candy bar cost in 30 years? |
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A. |
$4.32 |
B. |
$1.90 |
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C. |
$0.40 |
D. |
$2.43 |
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Hint |
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