Question

write a exponential function to model the situation then find the value of your function after the given amount of time 1. annual sales for a company are 149,000 and are increasing at a rate of 6% per year: 7 years 2. a new saving account starts at 700 and increases 1.2% yearly :8 years 3. the population of a town is 18,000 and is decreasing at the rate of 2% per year : 6 years 4. the value of a book is 58$ and decreases 10 % per year. : 8 years 5. a new car is worth 25,000 and it value decreases by 15% each year: 6 years .

Answer 1

In this case, we'll have to carry out several steps to find the solution.

Step 01:

annual sales = 149000

rate = 6%

exponential function = ?

time = 7 years

total sales = ?

Step 02:

exponential function:

annual sales = a

rate = r

time = t

total sales = s

`\begin{gathered} \\ s=a(1+r^{})^t \end{gathered}`

time = 7 years

`s\text{ = 149000}\cdot(1+0.06^{})^7`

s = 224040.9

The answer is:

exponential function:

s = a ( 1 + r) ^ t

The total sales after 7 years are 224040.9