Question

4

Write an exponential growth function to model
the situation given below to find the value of
the function after the given amount> time.
Membership of a local club grows at a rate of
$8% yearly and currently has 30 members.
Find the membership after 6 years.

Answer 1

10. Annual sales for a company are $149,000 and are increasing at a rate of 6% per year; 7 years.

y=149,000(1+.06)t, $224,040.91

11. The population of a small town is 1600 and is increasing at a rate of 3% per year; 10 years.

y=1600(1+.03)t, 2150 people

12. A new savings account starts at $700 and increases at 1.2% yearly; 8 years.

y=700(1+.012)t, $770.09

13. Membership of a local club grows at a rate of 7.8% yearly and currently has 30 members; 6 years.

y=30(1+.078)t, 47 members