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Quick tip! Growth and Decay often involve percentages. For growth we need a multiplier, that is a base for our exponential function, greater than 1. Example: growth rate: 3.5% as a decimal: 0.035 as a multiplier: 1.00 + 0.035 = 1.035. For decay we need a multiplier that is less than 1. Example: decay rate: 3.2% as a decimal: 0.032 as a multi lier: 1.00 - 0.032 = 0.968 Directions: For the problems you are assigned, write an equation, do a quick sketch of a graph of the function involved without Desmos, use guess and check to gure out the answer to the question. . If you invest $1,000 at 5% interest compounded annually, how many years will it take before you have $2,000? . In a tiny country the current population is 200,000 and is increasing at 2.5% a year. Most of the people eat rice as a basic part of their diet, and the country can produce enough rice for 300,000 people. Assuming they continue to produce the same amount of rice each year, how long will it be before there are shortages in rice and they have to start importing it? In 1996 the value of a 1957 Ford Mustang was appreciating at 10% per year. Al's father bought one back then for $4000 and he's kept it in immaculate shape. Al is bragging that it must be worth at least $50,000 now. What do you think of Al's claim? If it continues to appreciate at 10% per year, when will the car be worth $50,000