Word Problems – Exponential Functions
1. A new car worth $32000 depreciates at a rate of 13% every year. How much will it be worth in 6 years?
2. $4000 in a mutual fund earns 12% every year. How much will the fund be worth in 20 years?
3. The population of a town has been increasing by 2% every year. If the population is currently 7500, what will the population be in 25 years?
4. A coin collection is valued at $1200 and is predicted to increase by 2.5% every year. How much will it be worth in 15 years? Approximately how long will it take to be worth $5000?
5. Sue borrows $3500 and will be charged 0.8% interest per year. How much will she owe in 5 years?
6. Omar has a classic car valued at $24275. It has been appreciating in value at the rate of 4.05% per year. How much can he expect the car to be worth in 10 years? Approximately how long will it take to be worth $45000?
7. Sharon has loaned her friend $1725 for 4 years. She will charge her 5.45% interest compounded annually. How much will her friend owe her at the end of the loan?
8. A certain prescription drug diminishes in the system at a rate of 25% per hour. If a person was administered 1450mg of the drug, how much will remain in 4 hours? How many hours will it take for the amount of drug in their system to be less than 5mg?
Word Problems – Exponential Functions
1. A new car worth $32000 depreciates at a rate of 13% every year. How much will it be worth in 6 years?
2. $4000 in a mutual fund earns 12% every year. How much will the fund be worth in 20 years?
3. The population of a town has been increasing by 2% every year. If the population is currently 7500, what will the population be in 25 years?
4. A coin collection is valued at $1200 and is predicted to increase by 2.5% every year. How much will it be worth in 15 years? Approximately how long will it take to be worth $5000?
5. Sue borrows $3500 and will be charged 0.8% interest per year. How much will she owe in 5 years?
6. Omar has a classic car valued at $24275. It has been appreciating in value at the rate of 4.05% per year. How much can he expect the car to be worth in 10 years? Approximately how long will it take to be worth $45000?
7. Sharon has loaned her friend $1725 for 4 years. She will charge her 5.45% interest compounded annually. How much will her friend owe her at the end of the loan?
8. A certain prescription drug diminishes in the system at a rate of 25% per hour. If a person was administered 1450mg of the drug, how much will remain in 4 hours? How many hours will it take for the amount of drug in their system to be less than 5mg?
Word Problems – Exponential Functions
1. A new car worth $32000 depreciates at a rate of 13% every year. How much will it be worth in 6 years?
2. $4000 in a mutual fund earns 12% every year. How much will the fund be worth in 20 years?
3. The population of a town has been increasing by 2% every year. If the population is currently 7500, what will the population be in 25 years?
4. A coin collection is valued at $1200 and is predicted to increase by 2.5% every year. How much will it be worth in 15 years? Approximately how long will it take to be worth $5000?
5. Sue borrows $3500 and will be charged 0.8% interest per year. How much will she owe in 5 years?
6. Omar has a classic car valued at $24275. It has been appreciating in value at the rate of 4.05% per year. How much can he expect the car to be worth in 10 years? Approximately how long will it take to be worth $45000?
7. Sharon has loaned her friend $1725 for 4 years. She will charge her 5.45% interest compounded annually. How much will her friend owe her at the end of the loan?
8. A certain prescription drug diminishes in the system at a rate of 25% per hour. If a person was administered 1450mg of the drug, how much will remain in 4 hours? How many hours will it take for the amount of drug in their system to be less than 5mg?