solve these problems please Create the equation for the exponential function described in each real-world problem. Then, use the equation to answer the question.

Question

problem 1

Roberta invested $600 into a mutual fund that paid 4% interest each year compounded annually. Write an exponential function of the form y=a(b)^x to describe the value of the mutual fund then use that function to determine the value of the mutual fund in 15 years.

y=$

Problem 2

The population of a town in 2007 is 113,505 and is increasing at a rate of 1.2% per year. What will the population be in 2012?

y=

y=solve the equation above

Problem 3

Due to the closure of the pulp and paper mill, the population of the small town is decreasing at a rate of 12% annually. If there are now 2400 people living in the town, what will the town's projected population be in eight years?

Answer 1

1. y= 600*(1.04)^15 = 1,080.57
2. y = 2,400*(.88)^8 = 863.12
3. y = 113,505*(1.012)^4 = 120,480.72

Answer 2

1) y=600*(1.04)^15

2) y=113505*(1+0.0102)^5

3) y=2400(1-0.12)^8

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