We’ll go over some Applied Exponential Function Story Problems. Real world math uses of Exponential Functions include compound interest, population growth, radioactive decay, etc.
Raising Rent 2% Each Year
Generally textbooks just focus on compound interest etc so I wanted to do something different.
Imagine you’re renting out a duplex at $1,500 per month (this is obviously not in California). If you’re increasing rent by 2% per year, what will the rent be at certain years in the future?
Try to calculate out this word problem before you view the video.
Here it is all worked out.
Exponential Function Population Growth
Imagine you start with 75 deer, and the growth rate is 0.8. What will the population be approximately in 1, 2, and 5 years?
Try to solve this Exponential Function Word Problem on your own before watching the video.
Here is the worked out example below.
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