44 EQ What is exponential growth and how

4/4 EQ: ◦ What is exponential growth and how is it applied in real life? Agenda: ◦ 7. 1 Exponential Growth ◦ CW: Handout 1. 2. 3. 4. 5. 4. 66 4096 4. 04 or 1/25 49

Have you ever wondered? How much garbage would there be in a landfill after 5 years? 10 years? 50 years? What would I owe in student loans after college (including interest)? Why do I not feel more energized after drinking 3 energy drinks just to stay awake?

Explore Work in partners to solve the following problems in any way you can… A landfill has 50, 000 m 3 of garbage. Every three years, the amount of garbage in the fill doubles. What will the volume of garbage be in 24 years?

Explore Work in partners to solve the following problems in any way you can… Alfonso invests $2, 500 in a mutual fund at age 25. In 30 years, his investment doubles 5 times! What will the value of the investment be when he is 55 years old?

Explore Work in partners to solve the following problems in any way you can… Clara receives an inheritance from her Grandfather of $50, 000 as a retirement fund. She invests it into an account earning 5% interest each year. Clara is not allowed to touch the money for 30 years. How much will Clara have when she plans to retire?

Exponential Growth # of growth periods Original Amount Rate of growth

Percent of Change # of growth periods Original Amount Rate of Growth as a decimal Divide % by 100

Example

Example

Example

Compound Interest Initial amount Number of times interest is compounded

Example

Example

Try… On the following handout you will work in groups to solve applications of exponential growth Make sure you choose the appropriate formula to solve the problem You must also write a model for each problem.