Exponential Growth
Coach James invests $1200.00 in a money market account that earns 4.25% interest.
If he doesn’t make any deposits or withdrawals, what will the balance of the account in 10 years if the interest is compounded the following ways:1) Annually2) Semi-Annually3) Quarterly4) Monthly5) Continuously Jasmine receives a 3.5 % raise from her employer at the end of each year to account for inflation.
When she started working for the company in 1994, her annual salary was $31,000.6) What was Jasmine’s annual salary in 2000?7) What will Jasmine’s annual salary be in 2024?
The population of Dudley, NC in 2020 was 10,000 residents. If the population increases by 1.75% per year, answer the following questions:8) What will the population of Dudley be in 2025?9) What will the population of Dudley be in 2030?10) What year will the population of Dudley exceed 14,000 residents?
For more information read this:https://en.wikipedia.org/wiki/Exponential_growth
