1.Given the exponential growth function f(x) = 81(1.018)^x What is the initial value of the function? What is the growth factor, or growth rate of the function (as a percent)? %

2. If 34000 dollars is invested at an interest rate of 7 percent per year, find the value of the investment at the end of 5 years for the following compounding methods, to the nearest cent. (a) Annual: $ (b) Semiannual: $ (c) Monthly: $ (d) Daily: $

3. A bank features a savings account that has an annual percentage rate of r = 5.7% with interest compounded semi-annually. Jordan deposits $11,000 into the account. The account balance can be modeled by the exponential formula S(t) = P(1+r/n)^nt, where S is the future value, P is the present value, r is the annual percentage rate, n is the number of times each year that the interest is compounded, and t is the time in years. (A) What values should be used for P, r, and n? P = , r =, n = (B) How much money will Jordan have in the account in 1010 years? Answer = $ . Round answer to the nearest penny. (C) What is the annual percentage yield (APY) for the savings account? (The APY is the actual or effective annual percentage rate which includes all compounding in the year). APY= %.

Round answer to 3 decimal places.

4. An investment of $42,200.00 earns 9.9% annual interest, compounded continuously. If no funds are added or removed from this account, what is the future value of the investment after 11 years? Round your answer to the nearest penny. Future Value = $

5. A radioactive substance decays at a continuous rate of 17.3% per day. After 10 days, what amount of the substance will be left if you started with 270 mg? (a) First write the rate of decay in decimal form. r = (b) Now calculate the remaining amount of the substance. Round your answer to two decimal places.