Unit 6

Math Concepts

200

Name the rate in this exponential equation:

500(1 + .03)⁵

0.03

300

Name the rate in this exponential equation:

2500(1.09)¹⁰

0.09

400

Name the growth factor in this exponential equation:

2500(1.09)¹⁰

1.09

500

Name the growth factor in this exponential equation:

300(1 +.19)¹⁰

1.19

Terminology

100

Name the initial value in this exponential equation:

3500(1+.23)¹²

3500

200

Name the initial value in this compound interest equation:

500(1+.23/1)¹⁽¹²⁾

500

300

Name the time in this exponential equation:

3500(1+.23)¹²

12

400

Name the time in this exponential equation:

300(1-.83)^m

m

500

Name the time in this exponential equation:

700(.63)^x

x

Evaluate

400

Lisa purchases a house for $120,000 in a good area. The value of houses in the area where the house was purchased is averaging an increase of 6% per year. Determine the growth factor and write a function that describes the value of the house t years after it was purchased?

$241.46

500

Jeff purchases a house for $150,000 in an area that is declining. The value of houses in the area where the house was purchased is averaging a decrease of 3% per year. Determine the decay factor and write a function that describes t

$104,076.35

Writing Equations

400

Freddie purchased a pair of never worn Vintage 1997 Nike Air Jordan XII Playoff Black Varsity Red White Shoes Size 12 for $380. The shoes have shown an average growth rate of 14% per year. Determine the growth factor and write a function that describes the value of the shoes x years after it was purchased?

380(1+.14)^t

^or

380(1.14)^t

500

Esther purchased a used car, a Ford Focus, for $8400. The car is expected to decrease in value by 20% per year over the next couple of years. Determine the decay factor and write a function that describes the value of the car x years after it was purchased 

Bonus: Determine how much the car would be worth after 6 years.

8400(1-.20)^t

^or

8400(.8)^t

2202.00