Applications of Exponential Functions

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Exponential Functions

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Presentation transcript:

Applications of Exponential Functions Section 3.1B Applications of Exponential Functions Formulas for Compound Interest After t years, the balance A in an account with principal P and annual interest rate r (in decimal form) is given by the following formulas: 1. For n compoundings per year: 2. For continuous compounding: A = Pert

Ex 8: A total of $9000 is invested at an annual interest. rate of 2 Ex 8: A total of $9000 is invested at an annual interest rate of 2.5%, compounded annually. Find the balance in the account after 5 years. Ex 9: A total of $12,000 is invested at an annual interest rate of 3%. Find the balance after 4 years if the interest is compounded a) quarterly and b) continuously. $10,182.67 a. $13,523.91 b. $13,529.96

Ex 10: Let y represent a mass of radioactive strontium, Ex 10: Let y represent a mass of radioactive strontium, in grams, whose half-life is 28 years. The quantity of strontium present after t years is . What is the initial mass (when t = 0)? How much of the initial mass is present after 80 years? 10 grams 1.380 grams

Ex 11: The approximate number of fruit flies in an Ex 11: The approximate number of fruit flies in an experimental population after t hours is given by Q(t) = 20e0.03t, where t ≥ 0. Find the initial number of flies in the population. How large is the population after 72 hours? Graph Q. 20 flies 173 flies

Suggested Assignment: S 3.1B pg 186 - 187 #55 - 70