Exponential Functions
Write and solve an equation to determine the balance after 25 years in an account that had an initial investment of $18,000 at 3% interest, compounded annually.
18,000(1.03)25 = $37,688.00
Seeing depreciation in my word problem tells me to do what with my exponent?
Make it negative
What is the y-intercept on my graph?
Initial investment
What college is Mrs. Nelson an alumni of?
Texas Tech University
What will a $150,000 house be worth in 10 years if the inflation rate remains constant at 3%?
$201,587
If I am compounding my investment daily, what is my 'n' in my function?
365
After I have graphed my two functions in my calculator, what is my next step to be able to view my functions?
Menu - Window - Zoom Fit
What state is Stanford in?
California
What does Principal stand for in my function A(t)=P(1+r/n)tn
Initial investment
Determine the balance after 10 years in an account that had an initial investment of $25,000 at 3.5% interest, compounded quarterly.
$35,422.72
Label the x and y axis when you graph A(t) = P(1+r/n)tn
x-axis = time
y-axis = money
I'm tall when I'm young and I'm short when I'm old. What am I?
A candle
What is y=bx in log form?
x=logby
Determine the amount of money that needs to be invested at 6% compounded monthly, to have $20,000 in 15 years.
$8149.65
If I don't want to use my graph to find the amount of years for my money to double, what other method could I use to solve?
Logarithms
How many sides are in a heptagon?
7
Katie has $15,000 to invest in an account earning 4.75% interest, compounded monthly. How much interest has Katie earned after 5 years?
$4012.21
A new car was purchased in 2005 for $20,000. It depreciates at a rate of 9%. When will the car have a value of $10,000?
7.702 years
What button do I press once on the graphing screen to enter in my functions?
Tab
If I was given a choice to compound my money annually or weekly, which would I choose to grow my money the quickest?
Weekly