Exponential Growth and Decay Practice P(1+-r)^t

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Use this formula when the interest rate is a percent

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1. The number of student athletes at a local high school is 300 and is increasing at a rate of 8% per year. How many students will be at the school is 5 years? (Round answer to the nearest whole number)

5 points

2. The mice population is 25,000 and is decreasing by 20% each year. Write a model for this situation. What will be the mice population after 3 years?

5 points

3. A new SUV depreciates at a rate of 23% per year. If the original selling price was $30,000, how much will the vehicle be worth after 4 years? (Round answer to nearest hundredth)

5 points

4. Riley owns a painting that is valued at $59,000. If the value of the artwork decreases by 5% every year, how much will it be worth in 14 years?

5 points

5. Amy makes an initial investment of $5000. The investment gains 13.5% each year. Find the amount Amy has at the end of 8 years. (Round answer to nearest hundredth)

5 points

6. A radioactive element decays at a rate of 5% each year. There are 40 grams of the substance present. How much of the substance remains after 30 years (to the nearest hundredth)?

5 points

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