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3.2 Homework - Applications of Exponential Functions

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17 views2 pages

3.2 Homework - Applications of Exponential Functions

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sixtoc1
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Precalculus 3.

2 Homework – Applica�ons of Exponen�al Func�ons Name:____________________

General Form of an Exponential Equation: 𝒚𝒚 = 𝒂𝒂𝒃𝒃𝒙𝒙 , where 𝑏𝑏 > 0 and 𝑏𝑏 ≠ 1,

and where 𝑎𝑎 is the initial amount, 𝑏𝑏 is the continuous rate of change, and 𝑦𝑦 is the amount after 𝑥𝑥 amount of time.

Continuous Compound
Exponential Growth/Decay Compound Interest
Interest
𝒓𝒓
𝑨𝑨 = 𝑷𝑷(𝟏𝟏 + 𝒓𝒓)𝒕𝒕 𝑨𝑨 = 𝑷𝑷(𝟏𝟏 − 𝒓𝒓)𝒕𝒕 𝑨𝑨 = 𝑷𝑷(𝟏𝟏 + )𝒏𝒏𝒏𝒏 𝑨𝑨 = 𝑷𝑷𝒆𝒆𝒓𝒓𝒓𝒓
𝒏𝒏
P = principal/initial amount, r = rate (decimal), t = time (in years), n = number of compounding periods per year

1. You deposit $8600 in a bank account. Find the balance after 3 years if it is compounded quarterly at a 2.2% annual
interest.
Formula:

2. If you deposited $3000 in an account that is compounded continuously at a rate of 12%, what would be your ending
balance after 5 years?
Formula:

3. A Harley Davidson Sportster 1200 costs $10,799 new and it decreases in value 8.5% each year. What would the value
of the bike be under normal circumstances after 9 years?
Formula:

4. In 2015, the population of a town was 20 thousand people. By 2020, it was estimated at 40.2 thousand people.

a) Write an exponen�al func�on that could be used to model the popula�on of the town. Write x in terms of
the number of years since 2015.
Formula:

b) Predict the popula�on of the town in 2025.

5. A certificate of deposit (CD) pays 2.25% annual interest compounded biweekly (every 2 weeks). If you deposit $500
into this CD, what will the balance be after 6 years?
Formula:
6. Warsaw, Indiana’s population was 15,804 in 2020 and has been growing at a rate of 1.2% per year. If Warsaw
continues to grow at this rate, what will the population be in 2050?
Formula:

7. In 2012, Macy received $10,000 from her grandmother. Her parents invested all of the money for her and by 2024,
the amount will have grown to $16,960.

a) Write an exponen�al model that could be used to model the amount of money, y. Let x represent the number
of years since 2012.
Formula:

b) Use the model to predict the balance in the account in 2034.

8. An investment account pays 4.3% annual interest compounded monthly. If $2500 is invested in this account, what
will be that balance a�er 15 years.
Formula:

9. There are 1,000 bacteria at the start of an experiment. A�er 2 hours, there are 3,864 bacteria.
a) Write an exponen�al func�on that could be used to model the number of bacteria a�er x hours, if the number
of bacteria changes at the same rate.
Formula:

b) Use your model to predict the number of bacteria a�er 9 hours.

10. Find the account balance a�er 20 years if $100 is placed in an account that pays 1.2% interest
Formula:
compounded twice a month.

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