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After N Days $5 Plan Double Plan

The document describes a payment system offered by a new boss to an employee who just landed their dream job. The employee can choose between two payment plans: 1) earn $5 on the first day and have their salary increase by $5 each day for 30 days, or 2) earn $0.01 on the first day and have their earnings double each day for 30 days. Tables are provided showing the earnings under each plan for the first 10, 20, and 30 days.

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105 views17 pages

After N Days $5 Plan Double Plan

The document describes a payment system offered by a new boss to an employee who just landed their dream job. The employee can choose between two payment plans: 1) earn $5 on the first day and have their salary increase by $5 each day for 30 days, or 2) earn $0.01 on the first day and have their earnings double each day for 30 days. Tables are provided showing the earnings under each plan for the first 10, 20, and 30 days.

Uploaded by

api-261379705
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 17

You

just landed your dream job at ____________________________.


Your boss (a former math teacher) oers you a very unusual
payment system. You may either earn $5 on the rst day of work
and your salary will increase by $5 for 30 days, or you may earn
$0.01 on the rst day, $0.02 on the second day and it continue to
double for 30 days.
After n days
1
10
20
30

$5 Plan
$5

Double Plan
$0.01

Unit 7: Exponential and Logarithmic


Functions

Target 7.1, Day 1


GRAPH EXPONENTIAL GROWTH
AND DECAY FUNCTIONS
(7.1/7.2)

Exponential growth/decay function


x

y = ab

Exponential ___________
occurs when b is greater than 1.

Exponential ___________
occurs when b is between 0
and 1.

In real life, when something increases or decreases by a percent,


we will use the following equation to write a model:

y = a (1+ r )

y = a (1 r )

Exponential growth model

a is the _________________________
r is the _____________ increase (as a decimal)
(1 + r) is the growth factor
t is ______________
Exponential decay model
a is the _________________________
r is the _____________ decrease (as a decimal)
(1 - r) is the decay factor
t is ______________

Does the equation show exponential growth or decay? Explain.


10

y = 3.5 ( 0.05)

10

y = 3.5 (1.89 )

Describe what the numbers represent in each model.

The zombie infestation began with a single zombie, and then


doubled each day (100% increase), growing exponentially. How
many zombies were there after 5 days? 15 days? 25 days?

After how many days will the zombies outnumber the worlds
population of about 7 billion people?

You buy a new car that is worth $25,000. It decreases in value at a


rate of 4.2% per year. What is your car worth after 8 years?

After how many years will your car be worth only half of its original
value?

When you invest money, the interest you earn can be modeled
nt
using the equation

r
A = P1 +
n

where P is the principal (amount invested), r is


the annual interest rate (as a decimal), n is the
number of times per year interest is compounded
(calculated) and t is time.
You deposit $4,000 in an account that pays 2.92% annual interest.
Find your balance after 5 years if interest is compounded...
a) quarterly.
b) daily.

Warm Up 7.1, Day 2


An epidemic is spreading exponentially at a rate of 2.4% per day. If
25,000 people are infected today, how many people will be infected
after 30 days?
The bee population is decreasing exponentially at a rate of 5.3% per
year. If there are 10,000,000,000 bees today, how many will there
bee (get it?!) in 25 years?

You invest $500 in an account that pays 3.8% annual interest


compounded daily. How much money will you have after 30 years?

Unit 7: Exponential and Logarithmic


Functions

Target 7.1, Day 2


GRAPH EXPONENTIAL GROWTH
AND DECAY FUNCTIONS
(7.1/7.2)

Exponential growth/decay function


x

y = ab

b is the growth factor (if b > 1) or the decay factor (if 0 < b < 1)

Domain: _________

Range: ___________

(0, a)

(1, ab)

The line y = 0 is an
_____________________,
a line the graph
approaches, but never
touches.

Sketch a graph by plotting at least two points. Indicate the


asymptote and state the domain and range.

y=2

1 x
y = 4
2

Sketch a graph by plotting at least two points. Indicate the


x
asymptote and state the domain and range.

1
y = 2
4

2
y = 3
5

y = ab

x h

+k

h is a horizontal shift (Which one of these will


aect the asymptote?)
k is a vertical shift

Sketch a graph. Indicate the asymptote and state the domain and
range.

y = 42

x 1

1
y = 3
2

x +1

e is a special number that shows up frequently in nature. It is


called the natural base or the Euler number (named for its
discoverer, Leonhard Euler, seen here in his bathrobe).
e 2.71828182846... It is an irrational number, like .

e =?
ei ei = ?
Evaluate with a calculator.
4

0.09

Remember, since e is just a number (about 2.72), the same things


we learned about graphs of exponential growth still apply.
State the domain, range, and asymptote. Then, sketch a graph.

y = 3e

x2

+1

Domain:

Range:

Asymptote:

Previously, we learned how to calculate compound interest. If you


continue to increase the number of times you compound interest
(daily, by the minute, second, millisecond, etc), you approach a
limit.
The formula for interest that is compounded continuously is

A = Pe

rt

You deposit $4,000 in an account that pays


6% annual interest compounded
continuously. How much money do you
have after 5 years?

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