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Published byEric Garrett Modified over 9 years ago
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Application Problems (or in other words…..Word Problems!)
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Population Growth How does our population grow? Does each person just have one child or is there some other rate of growth out there? Population growth is not linear. If it was, there would not be controls on reproduction is some countries! The formula for population growth is exponential!
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Compound Interest Compound interest is different from simple interest because this is the idea that a person is paying interest on interest. What???? When you use your credit card, you pay interest. If it is not paid off, then the next statement will show interest on the interest and the original charge. That is why credit cards can be so bad!!
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P = 3000 r = 0.03 (change % to a decimal) n = 4 t = 7
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Be careful when entering in the exponents. Make sure your answers make sense. Remember to change percents to decimals. It may be helpful to identify each variable before beginning the problems!
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