(Unlimited Practice) SAT Math: Exponential Growth/Decay

1. Dana has a $38,000-car that depreciates at a rate of 2.8% per month. How much will the car be worth after 1 year? Round the answer to the nearest dollar.

$\$27,001$

$\$27,011$

$\$27,026$

$\$27,006$

2. The value of a land in a particular block follows a pattern of exponential growth of 9% every 8 years. This year, XYZ Company purchased the land for $650,000. Which of the following expressions represents the land's value $t$ years from now?

$A = \$650,000(0.91)^{t/8}$

$A = \$650,000(0.91)^{8/t}$

$A = \$650,000(1.09)^{t/8}$

$A = \$650,000(0.91)^{8t}$

3. The Hillside Community College plans to increase its enrollees by $n$ enrollees per year. There were a total of $b$ enrollees in the said college this year. Which function best models the total number of enrollees, $y$ , Hillside Community College plans to have $x$ years from now?

$y = b(n)^x$

$y = nx + b$

$y = n(b)^x$

$y =b(1+n)^x$

4. A 30-year old office worker is offered an opportunity to invest some money for retirement that pays 4.5% annual interest compounded continuously. How much does the office worker needs to invest today to have $1,000,000 when he retires at the age of 65? Round the answer to the nearest dollar.

$\$214,254$

$\$214,264$

$\$214,259$

$\$214,269$

5. Tayshawn placed a 200°C cup of coffee on the table for 2 minutes to cool down. What will its temperature is decreasing by 1.2% per minute during those 2 minutes? Round the answer to the nearest whole number.

$180^oC$

$195^oC$

$170^oC$

$175^oC$