An account with 5% compounded annually earns more interest than an account with a rate of 5% compounded quarterly.

A fruit fly population being studied in a biology class increases by 10 each week.   This is an example of linear growth.

Suppose that a city’s population is growing 3% per year and was at 245,000 people in 2008.   Calculate the population in this city in the year 2020.     You must show your work on your free response paper; do not type in the textbox below.  

The federal deficit refers to the government overspending for one year, whereas the federal debt refers to the government overspending for many years. 

You deposit $10,000 into an account.  Calculate how much will be in the account 15 years later, if you earn 5% compounded annually. if you earn 5% compounded monthly. if you earn 3% compounded continuously. Use the formulas provided for you in the academic honesty question. Round your answers to the nearest penny, which is two decimal places after the decimal point. Show your work and answer on your paper.   This question is worth 12 points = 4 points for each part.

A population of beetles begins at 3 and grows by 8 each week.   Select the general (explicit) formula for this growth from the options below.  Refer to the formulas given to you in the Academic Honesty Statement question.  

Suppose your monthly payment on a 15-year mortgage is $2800.  Your total payment over the 15 year period …

A home’s value is doubling every seven years.  This doubling is a form of linear growth.

The Fibonacci sequence starts with 1, 1, 2, 3, … and contains the number 55.

The number of patients in the local ICU (intensive care unit) is increasing by 15 people every day. This is an example of an exponential growth.