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    (T) A (1 + R) or (T) Ae

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    rohitrgt4u
    This document discusses exponential growth and decay models used in economics, science, and other fields. It provides examples of the percentage and scientific models, including the equations and what each variable represents. It then provides 7 word problems to solve using these exponential models, involving topics like population growth, depreciation, inflation, retirement savings, radioactive decay, carbon dating, and determining if a found bone could be from a dinosaur.

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    (T) A (1 + R) or (T) Ae

    Uploaded by

    rohitrgt4u
    25 views2 pages
    This document discusses exponential growth and decay models used in economics, science, and other fields. It provides examples of the percentage and scientific models, including the equations and what each variable represents. It then provides 7 word problems to solve using these exponential models, involving topics like population growth, depreciation, inflation, retirement savings, radioactive decay, carbon dating, and determining if a found bone could be from a dinosaur.

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    algebra

    Original Title

    Hon3-4W7-6B

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    This document discusses exponential growth and decay models used in economics, science, and other fields. It provides examples of the percentage and scientific models, including the equations and what each variable represents. It then provides 7 word problems to solve using these exponential models, involving topics like population growth, depreciation, inflation, retirement savings, radioactive decay, carbon dating, and determining if a found bone could be from a dinosaur.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    25 views2 pages

    (T) A (1 + R) or (T) Ae

    Uploaded by

    rohitrgt4u
    This document discusses exponential growth and decay models used in economics, science, and other fields. It provides examples of the percentage and scientific models, including the equations and what each variable represents. It then provides 7 word problems to solve using these exponential models, involving topics like population growth, depreciation, inflation, retirement savings, radioactive decay, carbon dating, and determining if a found bone could be from a dinosaur.

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    © All Rights Reserved
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    of 2

    7-6B Worksheet Per: Name:

    Exponential Growth and Decay Applications Honors Algebra 3-4 – Unit 3


    When talking about exponential growth and decay, there are two models. Economists usually prefer the first
    model, and scientists prefer the second. Not all models are exact, but they help estimate the amount that will
    be present. If you use both models for the same problem, there may be some difference between the results.

    Percentage Model (use especially for $) Scientific Model


    nt
     r
    A(t) = a(1 + r)t or A(t ) = a1 + 
     n
    A(t) = aekt
    a = initial amount
    A(t) = current amount
    r = rate (as a decimal)
    n = # of compounding periods per year
    k = change constant
    t = time
    For growth the rate is positive (+) and for decay the rate is negative (–).
    The constant of change, k, is essentially the same as the “rate,” but often times it must be determined.
    Some real-life applications of exponential growth and decay are: appreciation or depreciation of personal
    belongs (homes, cars, computers, etc.), world or biological populations (country populations, bacterial or
    wildlife growth), economy (Gross Domestic Product – GDP), and radioactive dating (Carbon-14).
    Solve each problem.
    1. POPULATION The population of rabbits in an area is modeled by the growth equation P(t) =
    8000e0.26t, where the initial population is 8000 rabbits and t is in years. How long will it take for the
    population to reach 25,000 rabbits?

    2. DEPRECIATION Kayla bought an iPhone for $499 with a two-year contract. Even though iPhones
    retain their value more than most phones, it is expected to depreciate at a rate of 34% per year. What
    will the value of the phone be in 2 years?

    3. INFLATION For Dave to buy a new car comparably equipped to the one he bought years ago would
    cost $17,500. Since Dave bought the car, the inflation rate for cars like his has been at an average
    annual rate of 5.1%. If Dave originally paid $10,000 for the car, how long ago did he buy it?
    4. RETIREMENT SAVING Hannah started a Roth IRA when she turned 24 years old in January 2015.
    She was able to invest $5500 in mutual funds with interest compounded monthly. She does not touch
    the money in her account for 30 years. How much money would she have for retirement by January
    2045 with the following average annual rates of return:
    a.) 1% annually? b.) 5% annually? c.) 10% annually?

    5. RADIOACTIVE DECAY Half-life is how long in years t it takes to go from 100% to 50%. A
    radioactive substance has a half-life of 32 years. Find the constant k in the decay formula for the
    substance to 5 decimal places.

    6. CARBON DATING The half-life of Carbon-14 is approximately 5760 years. From this value, the
    decay constant k is approximately 0.00012. A paleontologist examining the bones of a woolly
    mammoth estimates that they contain only 3% as much Carbon-14 as they would have contained when
    the animal was alive. How long ago did the mammoth die?

    7. PALEONTOLOGY A paleontologist finds a bone that might be a dinosaur bone. In the laboratory,
    she found that the Carbon-14 found in the bone is 1/1000 of that found in living bone tissue.
    Remember, the decay constant k is approximately 0.00012. Could this bone have belonged to a
    dinosaur? Explain your reasoning.

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