Growth or Decay?
You purchase a vehicle for $25,400 in 2015. This brand of vehicle typically depreciates at a rate of 3.2% each year. What is the value of the vehicle now?
Write the equation.
Growth
y=25,400(1-0.032)^9
Shepherd's population has been growing at a rate of 0.2% each year. If the population was 4,230 in 1990, what is the projected population for 2030?
4,582 people
You purchase a vehicle for $25,400 in 2015. This brand of vehicle typically depreciates at a rate of 3.2% each year. What is the value of the vehicle now?
$18,282.87
You put $5,000 into an account that gains 1.4% interest, compounded quarterly. How much will you have after 12 years?
$5,912.95
Shepherd's population has been growing at a rate of 0.2% each year. If the population was 4,230 in 1990, what is the projected population for 2030?
Write the equation.
Growth
y=4,230(1+0.002)^40
A city is losing population at a rate of 0.5% each year. If they had 405,000 in 2000, what was the population in 2020?
366,367 people
At an accounting firm, employees can expect to receive a 3.5% raise for each year they are employed. If an employee began with a salary of $43,000, how much will their salary be after 15 years with the company?
$72,040.00
You want to go on a trip that will cost $3,000. If you put $2,000 into an account that gains interest monthly at a rate of 2.8%, will you have enough for your trip in 5 years? How much will you have?
No, you will only have $2,300.17.
The air in a bike tire leaks at a rate of 1% each hour. If it began with 25 cubic inches of air, how much air will be remaining in 12 hours?
Write the equation.
Decay
y=25(1-0.01)^12
From 1900 to 1985, the population of Chicago increased its population by 2% each year. If the population in 1900 was 520,000, what was the population in 1985?
2,799,097 people
The value of a collector's item increases an average of 2% each year. If someone bought it in 2001 for $500, what will the value be in 2025?
$804.22
You start a savings account for your child by putting $1,500 into an account that compounds semi-annually at a rate of 5%. How much will be in the account in 18 years?
$3,648.80
At an accounting firm, employees can expect to receive a 3.5% raise for each year they are employed. If an employee began with a salary of $43,000, how much will their salary be after 15 years with the company?
Write the equation.
y=43,000(1+0.035)^15
The population of African elephants has decreased by 1% each year. If the population in 1995 was 42,000, how many elephants were there in 2003?
38,755 elephants
Tuition has raised 2% at MSU each year since 2010. If the tuition then was $17,000 a year, what is the tuition expected to be in 2025?
$22,879.76
You start a savings account with an inheritance you got in the amount of $40,000. If you invest it into an account that compounds 3.5% quarterly, how much will be available to you in 20 years?
$80,305.23
The value of a collector's item increases an average of 2% each year. If someone bought it in 2001 for $500, what will the value be in 2025?
Write the equation.
Growth
y=500(1+0.02)^24
The population of Garnet, MT decreased 12% each year from 1910 to 1930. If they had 600 people to start with, how many were left?
47 people.
$385,772.11
An account was started in 2004 that had $3,200. It accrues interest at a rate of 6.8% and compounds monthly. If the account holder wants to know what the value would be in 2030, how would you find it?
Write the equation.
Solve.
A=3,200(1+(0.068/12))^(12*26)
$18,655.86