Week 8: Exponential Functions

• Submitted Assignment:  Solve the following problem. Your solution is to be Typed in a Word or pdf document which allows Turnitin to evaluate your post to the assignment link.  No picture files or pictures embedded in the Word or pdf document will be accepted. 

• Problem Solution: Solve the following problem clearly showing all your work, formulas used, each step of the solution, and all required answers.  As indicated in the Rubric above, half of your grade will be based on this solution.  

• Narrative Explanation:  The word Narrative means your explanation will be in complete sentences, not labels or phrases.  The narrative requires an explanation of the problems, a description of the solution steps, and an evaluation of the answers. It can be integrated into the solution and/or explained separately.  As indicated in the Rubric above, half of your grade will be based on the narrative explanation.

• Problem: You are going to consider a one-time investment of $10,000 at 4% interest over a period of 40 years. Find the final balance if the interest rate is:

       1. Compounded annually
       2. Compounded quarterly
       3. Compounded monthly
       4. Compounded daily
       5. Compounded continuously
       6. Compare the results, what do you notice? 

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