Applications of Exponential and Logarithmic Equations Formulas

Math 108 Chapter 12.7 – More Applications of Exponential and Logarithmic Equations Formulas: A(t ) = Pe rt rö æ A ( t ) = P ç1 + ÷ è nø nt P(t ) = P0ekt P(t ) = P0e-kt 1. The function V (t ) = 275,000(0.87)t , where V is the value and t is the time in years, can be used to find the value of a tractor of a big rig. a. What is the value of the tractor after 3 years of use? 2. In 2014, the number of college students studying online was 5.8 million, and the exponential growth rate was 3.9% per year. a. Find the projected number of online students in 2017. b. When will the number of online students reach 10 million? Round to the nearest year. 3. The First Federal Bank offers savings account at 3.5% compounded daily. a. How much money will there be on the account after 5 years if $10,000 is deposited initially? b. How long will it take $10,000 to triple at First Federal Bank? 4. The population in Alaska has an exponential growth rate of 2.794% per year. How many years will it take the population to double? 5. Carbon-14 has a decay rate of 0.01205% per year. How old is an ivory tusk that has lost 40% of its carbon-14?
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