1. Warm up

2. Chapter 8.8 Exponential growth and decay

3. Exponential Growth In 1990, Florida’s population was about 13 million. Since 1990, the State’s population has grown about 1.7% each year. This means that Florida’s population is growing exponentially. What will the population be in 1994? Starting amount Growth factor (1.7% + 100%) Number of years since 1990

4. Exponential growth Since 1985, the daily cost of patient care in community hospitals in the U.S. has increased by about 8.1% per year. In 1985, such hospital costs were an average of $460 per day. Find the approximate cost per day in 2000.

5. Exponential Growth Suppose your community has 4512 students this year. The student population is growing 2.5% each year. Write an equation to model the student population. What will the student population be in 3 years?

6. Compound interest **When a bank pays interest on both the principal and the interest an account has already earned, the bank is paying compound interest. Suppose your parents deposited $1,500 in an account paying 6.5% interest compounded annually (once a year) when you were born. Find the account balance in 18 years.

7. Exponential Decay Since 1980, the number of gallons of whole milk each person in the U.S. drinks each year has decreased 4.1% each year. In 1980, each person drank an average of 16.5 gallons of whole mile per year. Calculate the approximate consumption per person of whole milk in 2000.

8. Exponential Decay In 1990, the population of Washington, D.C. was about 604,000 people. Since then the population has decreased about 1.8% per year. Predict the population of Washington, D.C. in 2010.