Exponential Word Problems: Growth & Decay Growth Formula: y= a (1 +r) Decay Formula: y =a (1-r) where a = original number; r= rate (% in decimal form); t=time periods Write an exponential function to model pach situation. Find each amount at the end of the specified time. Round your answèrs to the nearest whole number. 1. A town with a population of 5,000 grows 3% per year. Find the population at the end of 10 years. 2. Amy makes an initial investment of $5000. The investment loses 13.5% each year. Find the amount Amy has at the end of 8 years.

College Algebra (MindTap Course List)
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ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
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Chapter5: Exponential And Logarithmic Functions
Section5.2: Applications Of Exponential Functions
Problem 44E: Use a graphing calculator to solve each problem. In Example 4, suppose that a birth control program...
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Exponential Word Problems: Growth & Decay
Growth Formula: y = a (1 + r)
Decay Formula: y = a (1- r)
where a = original number; r= rate (% in decimal form); t= time periods
%3D
Write an exponential function to model pach situation. Find each amount at the end
of the specified time. Round your answềrs to the nearest whole number.
1. A town with a population of 5,000 grows 3% per year. Find the population at the end of
10 years.
2. Amy makes an initial investment of $5000. The investment loses 13.5% each year.
Find the amount Amy has at the end of 8 years.
3. Suppose you deposit $1000 in a college fund that pays 7.2% interest compounded
annually. Find the account balance after 5 years.
4. Suppose the account in #3 above paid interest quarterly instead of annually. Find the
account balance after 5 years.
5. The population of Boomtown is 475,000 and is increasing at a rate of 3.75% each year.
When will the population exceed 1 million people (to the nearest year)?
6. The population of Leavetown is 123,000 and is decreasing at a rate of 2.375% each
year.
When will the population of Leavetown drop below 50,000 (to the nearest year)?
What will the population of Leavetown be 100 years from now?
Transcribed Image Text:Exponential Word Problems: Growth & Decay Growth Formula: y = a (1 + r) Decay Formula: y = a (1- r) where a = original number; r= rate (% in decimal form); t= time periods %3D Write an exponential function to model pach situation. Find each amount at the end of the specified time. Round your answềrs to the nearest whole number. 1. A town with a population of 5,000 grows 3% per year. Find the population at the end of 10 years. 2. Amy makes an initial investment of $5000. The investment loses 13.5% each year. Find the amount Amy has at the end of 8 years. 3. Suppose you deposit $1000 in a college fund that pays 7.2% interest compounded annually. Find the account balance after 5 years. 4. Suppose the account in #3 above paid interest quarterly instead of annually. Find the account balance after 5 years. 5. The population of Boomtown is 475,000 and is increasing at a rate of 3.75% each year. When will the population exceed 1 million people (to the nearest year)? 6. The population of Leavetown is 123,000 and is decreasing at a rate of 2.375% each year. When will the population of Leavetown drop below 50,000 (to the nearest year)? What will the population of Leavetown be 100 years from now?
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