MBF 3C1 Lesson 7 Assignment In this assignment you are going to explore the characteristics of an exponential function. Total marks: 24 marks Part A: True or False (4 marks) Indicate whether the statement is true or false. If false, change the identified word or phrase to make the statement true. You will receive one mark for the correct answer (true or false) and one mark for changing the identified word. 1. Doubling time is the time it takes for a population to double in size. 2. Half-life is the time it takes for a quantity to double its amount. Part B: Fill in the Blank (3 marks) Complete each statement. Each question is worth one mark. 3. The time required for a quantity to double in size is called the 4. If the formula P = 1500(1.013" is used to model the growth of the population P of lemmings, the number 1500 represents . 5. When the base of an exponential relation is 2, the relation is describing a function. Part C: Multiple Choice [Identify the choice that best completes the statement or answers the question. Marks allotted for each question are indicated next to the question. Use this information to answer questions 6 - 8. You have been given $1000 Canada Savings Bonds that will earn 9.5% interest, compounded annually. 6. (1 mark) Based on the above information, which equation represents the value of the bonds? i Initial Amount: Growth Rate 100% + Period: Time: i ! \\ i Equation: | J a. 4=1000(1.95) & ,q=1\"\"(14095)" b. 4- 1000(1.035)" d A=4x1000(1.095) Page 1 7. (2 marks) Based on the above information, what will be the value of the bonds after 4 years? Initial Amount: Equation: Growth Rate 100% + a. $1000.00 b. $1380.00 c. $1437.66 d. $4380.00 8. (1 mark) Based on the above information, which graph represents the value of the bonds? 4500 + 2000 5500 5000 25010 2000 1500 1000 00 Page 2 12 14 16 X 1500 100 S00 b2 4 6 % 10 12 14 16 X 4500 4000 3500 o0 2500 2000 1500 o0 500 i 2 4 6 % 10 12 14 16 X 9. (2 marks) The population of marmots on Mt. Washington is estimated at 5000. If the growth of marmots is 10. 11. 12, 2% per year, what will be the population in 15 years? i Initial Amount: Growth Rate 100% + Period: Time: | i Equation: | | | | | | | RS a. 5030 b. 6730 c. 76500 d. 77035 =y (2 marks) A cottage is originally bought for $150 000. If the value of this cottage appreciates at the rate of 7% per year, how much will it worth after 12 years? 1 i Initial Amount: Growth Rate 100% + Period: Time: I i Equation: I I I I i e a. $192 600 b. $276 000 c. $337829 d. $10500 000 (2 marks) A 20-years-old person deposits $1500 in an account that pays interest at 11% compounded annually. How much will be in the account when the person is 65 years old? i Initial Amount: Growth Rate 100% + Period: Time: | i Equation: | | | | | | e a. $12094 b. $74 925 c. $164295 d. $1 324600 (2 marks) If the rate of inflation is 6.5% per year, how much would you expect to pay for a loaf of bread now priced at $1.58 after 9 years? Initial Amount: Growth Rate 100% + Period: Time: Equation: Page 3 _ s 13. 14. 15. Use this information to answer questions 13 I35. There are approximately 500 wolves in Algonquin Provincial Park. Under ideal conditions, this population would double every 35 years. (1 mark) Based on the above information, which equation models this population growth? i Initial Amount: Growth Rate 100% + Period: Time: i I | i Equation: i ! | | | | I | | | I ! | | L b. 35 c. L d. 35 P=500(2) 33 P=500(2) P=500(0.5)35 P=500{0.5) (2 marks) Based on the above information, what will be the wolf population in 25 years? ______________________________________________________________________________________ I i Initial Amount: Growth Rate 100% + Period: Time: i | I i Equation: i ! : | I I I | | | 1 ' i e ] a. 595 b. 820 c. 857 d. 1320 i Initial Amount: Growth Rate 100% + Period: Time: i | 1 i Equation: i ! | I I | I 1 1 | I | I D a. 44 b. 320 c. 357 d. 410 Page 4