1
CONCEPT
Solving for Growth Time using Compound Interest Formula 22 5 that's 96%R E T A K E
24 questions were answered correctly.
1 question was skipped. These were marked incorrect.
If $15,000 is invested at 6.5% annual interest compounded annually, how long would it take for the account
balance to reach $50,000? Round your answer to the nearest tenth.
RATIONALE
To find the answer, use the formula for compound interest and solve for t: where: A = 50,000 P = 15,000 r = 6.5% or 0.065 n = 1 To begin, substitute the known values and simplify the formula first by adding the values in the parentheses and
dividing both sides by the coefficient. To undo the variable exponent, apply a logarithm to both sides and use the Power Property of Logs to move the
variable outside the log. For the exponential function , what is the value of f(2)?
RATIONALE
To find f(2), simply plug in 2 for x and solve:
25.9 years
19.1 years
17.3 years
22.5 years
144
576
48
96
MILESTONESCORE
24/25
CONCEPT
Introduction to Exponential Equations 3
CONCEPT
Calculating Odds 4
CONCEPT
Properties of Logs 5 Hae randomly selects a ball from a bag containing different colored balls. The odds in favor of her picking a red
ball are 2:11. What is the probability of Hae picking a red ball from the bag?
RATIONALE
Recall that we can go from odds to a probability by rewriting it as the fraction .
So, if the odds are 2:11, then the probability is .
The difference can also be expressed as __________.
RATIONALE
The expression
The Quotient Property of Logs says that if you have an individual log with the same base connected with
subtraction, you can simplify the expression by dividing the arguments (what's inside the parentheses).
Simplify the parentheses.
Which linear equation would produce a y-intercept of (0, -6) and a slope of 2?
y = 2x + 6
MILESTONESCORE
24/25
CONCEPT
Solving for Growth Time using Compound Interest Formula 22 5 that's 96%R E T A K E
24 questions were answered correctly.
1 question was skipped. These were marked incorrect.
If $15,000 is invested at 6.5% annual interest compounded annually, how long would it take for the account
balance to reach $50,000? Round your answer to the nearest tenth.
RATIONALE
To find the answer, use the formula for compound interest and solve for t: where: A = 50,000 P = 15,000 r = 6.5% or 0.065 n = 1 To begin, substitute the known values and simplify the formula first by adding the values in the parentheses and
dividing both sides by the coefficient. To undo the variable exponent, apply a logarithm to both sides and use the Power Property of Logs to move the
variable outside the log. For the exponential function , what is the value of f(2)?
RATIONALE
To find f(2), simply plug in 2 for x and solve:
25.9 years
19.1 years
17.3 years
22.5 years
144
576
48
96
MILESTONESCORE
24/25
CONCEPT
Introduction to Exponential Equations 3
CONCEPT
Calculating Odds 4
CONCEPT
Properties of Logs 5 Hae randomly selects a ball from a bag containing different colored balls. The odds in favor of her picking a red
ball are 2:11. What is the probability of Hae picking a red ball from the bag?
RATIONALE
Recall that we can go from odds to a probability by rewriting it as the fraction .
So, if the odds are 2:11, then the probability is .
The difference can also be expressed as __________.
RATIONALE
The expression
The Quotient Property of Logs says that if you have an individual log with the same base connected with
subtraction, you can simplify the expression by dividing the arguments (what's inside the parentheses).
Simplify the parentheses.
Which linear equation would produce a y-intercept of (0, -6) and a slope of 2?
y = 2x + 6
MILESTONESCORE
24/25
