For [1], what is the percent of increase/decrease?
2 points
2
Question 3
3.
Teen spending is expected to grow 2.1% annually from $77.5 billion in 2000.
Write the equation to model this situation.
1 point
1
Question 4
4.
How many billions is the expected amount of money that teens will spend in 2014?
3 points
3
Question 5
5.
Hunter invested $580 in an account paying an interest rate of 4.6% compounded monthly.
What is the equation?
1 point
1
Question 6
6.
Assuming no deposits or withdrawals are made, how much money, to the nearest dollars, would be in the account after 19 years?
For [7]-[12], to get full credit you must include the equation in the show your work space.
2 points
2
Question 7
7.
Blake is going to invest in an account paying an interest rate of 1.5% compounded quarterly. How much would Blake need to invest, to the nearest dollar, for the value of the account to reach $910 in 10 years?
3 points
3
Question 8
8.
David invested $350 in an account paying an interest rate of 3\tfrac{1}{2}% compounded continuously. Jack invested $350 in an account paying an interest rate of 3\tfrac{1}{4}% compounded quarterly. After 5 years, how much more money would David have in his account than Jack, to the nearest dollar?
2 points
2
Question 9
9.
Nolan invested $5,300 in an account paying an interest rate of 3.8% compounded annually. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $6,880?
2 points
2
Question 10
10.
Nathaniel is going to invest $76,000 and leave it in an account for 18 years. Assuming the interest is compounded continuously, what interest rate, to the nearest tenth of a percent, would be required in order for Nathaniel to end up with $100,000?
3 points
3
Question 11
11.
A new car is purchased for $17,000 and over time its value depreciates by one half every 3 years. What is the value of the car 19 years after it was purchased, to the nearest hundred dollars?
3 points
3
Question 12
12.
In a lab experiment, 720 bacteria are placed in a petri dish. The conditions are such that the number of bacteria is able to double every 26 hours. How long would it be, to the nearest tenth of an hour, until there are 1310 bacteria present?