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Exponential Growth And Decay
Test Description: Solve each question
Instructions: Answer all questions to get your test result.
1) Olivia purchased a music system worth $18,000 in the year 2001. It loses its value by 6% per year. What is the value of the music system in 2003?
A
$14950.51
B
$15904.48
C
$16920
D
$20224.80
2) Matthew bought a laptop for $34,000 in the year 2008. Its value depreciates by 4% per year. What is the value of laptop in 2011?
A
$32,640
B
$31,334.40
C
$30,081.024
D
$21,700.14
3) In 1995, there were 85 rabbits in Central Park. The population increased by 12% each year. How many rabbits were in Central Park in 2005?
A
$264
B
$23.67
C
$210
D
$236
4) A private high school charges $57,000 for tuition, but this figure is expected to rise 10% per year. What will tuition be in 3 years?
A
$75,867.00
B
$83,453.70
C
$68,970
D
$41,553
5) Ryan bought a bike for $47,000 in the year 2002. Its value depreciates by 2% per year. What is the value of the bike in 2006?
A
$50,835.20
B
$41,634.60
C
$43,351
D
$45,138.80
6) Which of the following model is an exponential decay model?
A
y = 4(1.21)^t
B
y = 12(3.57)^t
C
y = 7 (0.98)^t
D
y = 1 + 6t
7) Max has $30 in a savings account. The interest rate is 10%, compounded annually. To the nearest cent, how much will he have in 2 years?
A
$36.30
B
$28.40
C
$24.30
D
$34.20
8) In 1985, there were 285 cell phone subscribers in the small town of Centerville. The number of subscribers increased by 75% per year after 1985. How many cell phone subscribers were in Centerville in 1994?
A
about 25,070
B
about 46,000
C
about 43,872
D
about 76,776
9) Daisy purchased a food processor for $23,000 in the year 2009. It loses its value by 7% per year. What is the price of the food processor in 2012?
A
$11,969.45
B
$28,176
C
$20,150
D
$18,500.21
10) Adam bought a fish aquarium worth $2,000 in the first week of the year. Its value depreciates by 3% per week. What will the value of fish aquarium after 5 weeks?
A
about $2,318.55
B
about $1,659
C
about $1,717.47
D
about 1,770.59
*select an answer for all questions
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