To pay for a home improvement project that totals $9,000, Genesis is choosing between taking out a simple interest bank loan at 9% for 3 years or paying with a credit card that compounds monthly at an annual rate of 18% for 7 years. Which plan would give Genesis the lowest monthly payment?

The monthly credit card payment would be $295, which is lower than the monthly payment on the bank loan.
The monthly payment on a bank loan would be $272.50, which is lower than the monthly credit card payment.
The monthly payment on a bank loan would be $317.50, which is lower than the monthly credit card payment.
The monthly credit card payment would be $374.21, which is lower than the monthly payment on the bank loan.
Question 2(Multiple Choice Worth 1 points)
(03.02 MC)

Initially, there were only 197 weeds at a park. The weeds grew at a rate of 25% each week. The following function represents the weekly weed growth: f(x) = 197(1.25)x. Rewrite the function to show how quickly the weeds grow each day and calculate this rate as a percentage.

f(x) = 197(1.25)7x; grows at a rate of approximately 2.5% daily
f(x) = 197(1.257)x; grows at a rate of approximately 4.77% daily
f(x) = 197(1.03)x; grows at a rate of approximately 0.3% daily
f(x) = 197(1.03)7x; grows at a rate of approximately 3% daily
Question 3(Multiple Choice Worth 1 points)
(03.02 MC)

The price of gold has increased by 35% per year from 2000. In the year 2000, Harry bought a gold ring for $590. Which of the following equations can be used to represent the price of the ring x years after 2000?

y = 590(1.35)x
y = 590(0.65)x
y = 35(0.41)x
y = 35(1.59)x
Question 4(Multiple Choice Worth 1 points)
(03.02 MC)

Darren is purchasing a car that costs $11,000. He is taking out a simple interest loan at an annual rate of 3%. If he makes monthly payments over a period of 5 years, how much is his monthly payment?

$183.33
$191.67
$198.05
$210.83
Question 5(Multiple Choice Worth 1 points)
(03.02 LC)

The function below represents the annual interest Victoria earns on a savings account. Identify the term that represents the amount of money originally deposited in the account.

f(x) = 300(1 + 0.03)x

300
1
0.03
x
Question 6(Multiple Choice Worth 1 points)
(03.02 LC)

Rewrite the function f of x equals 4 times one third to the 2 times x power using properties of exponents.

f of x equals 4 times one ninth to the x power
f of x equals 4 times two sixths to the x power
f of x equals 16 times one third to the x power
f of x equals 16 times one ninth to the x power
Question 7(Multiple Choice Worth 1 points)
(03.02 MC)

Due to conservation efforts, the panda bear has been removed from the endangered species list. There are now 15,000 in the world, and the population is expected to grow by 10% yearly. Write an equation that models this scenario.

y = 15,000(1.10)x
y = 15,000(0.90)x
y = 15,000(0.10)x
y = 15,000(1.90)x
Question 8(Multiple Choice Worth 1 points)
(03.02 LC)

Which of the following options is an equivalent function to f(x) = 3(2)3x?

f(x) = 3(8)x
f(x) = 24x
f(x) = 27(8)x
f(x) = 3(8x)
Question 9(Multiple Choice Worth 1 points)
(03.02 MC)

A certain forest covers an area of 2,000 square kilometers. Suppose that each year, this area decreases by 6%. What is the equation that best represents the area of the forest each year?

Hint: Use the formula y = P(1 + r)x.

y = 2,000(0.94)x
y = 2,000(1.06)x
y = 2,000(0.06)x
y = 2,000(1.94)x
Question 10(Multiple Choice Worth 1 points)
(03.02 MC)

The average annual salary of the employees of a company in the year 2005 was $80,000. It increased by the same factor each year, and in 2006, the average annual salary was $88,000. Let y represent the average annual salary, in thousand dollars, after x years since 2005. Which of the following best represents the relationship between x and y?

y = 88(0.88)x
y = 88(1.1)x
y = 80(0.88)x
y = 80(1.1)x