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Name _____________________________
Date ___________________

Exponent and Logarithm Applications
(Answer ID # 0640191)
Complete

1.   Brandon bought a government savings bond for $1,100. He was told that when the bond can be cashed in 5 years that he would get $1,444.48. If the interest on the bond is compounded annually, what is the interest rate on the bond?





2.   The Arctic Bank offers a five CD that pays 3.8% interest compounded continuously. Jane deposited $5,931. How much will Jane's account be worth in five years?





3.   The local government projects that the town will grow at a constant rate of nineteen percent per year. At this rate, how many years will it take the town's population to be four times its current size?





4.   The local government projects that the town will grow at a constant rate of twelve percent per year. At this rate, how many years will it take the town's population to double?






 


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