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     2.1  Checkpoint Exponential Functions 1

1.       Write an exponential function with an initial value of $50,000 and a growth rate of 8%.

2.      Write an exponential function with an initial value of $1,000 and a growth rate of 4%.

3.      How much money would you have after 4 years if you invested $3,000 in a Certificate

      of Deposit (CD) earning 5.5% interest compounded every year?

4.      How much money would you have after 40 years if you invested $1,000 in a mutual fund

      earning 8% interest compounded every year?

5.      Explain why in the formula    the constant C  represents the initial

     amount of your quantity, given that the variable t  represents time.

6.      Are the following exponential functions?  Yes or no and why. For those that are        

     exponential functions, identify the initial amount and the growth rate.

            a)                                                    e)   

            b)                                                        f)   

            c)                                                       g)    

            d)                                                 h)   

7.                  For each of the following growth rates, name the growth factor.

a)      5%                                                                       d)  100%

b)      7.5%                                                              e)   200%

c)      42%                                                             f)  150%

8.                  For each of the following growth factors, name the growth rate.

a)      1.06                                                           d)  5.00

b)      1.15                                                           e)  2.00

c)      1.50                                                        f)   3.5

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