Unit+8


 * __ 8.1: __**In your online journal:
 * Identify each variable in an exponential growth model and say what it represents.
 * Only looking at an equation, how would you determine if the function represents a growth model or a decay model?
 * Also, copy the equation into your notebook for class and have each variable labeled to be ready for class.

Given the scenario below, use the equation to find p(2) and explain in complete sentences what you have just determined in the context of the situation.

Answer: 4081.36
 * The population of Jacksonville was 3,810 in 2007, and is growing at an annual rate of 3.5%. The population of Jacksonville can be modeled by the function P(t) = 3810(1.035)^t.**
 * decay
 * 3810(1.035)^2
 * 3810= intial amount
 * .035= annual rate
 * t= years


 * __ 8.2: __**Look at the graph below. Both exponential growth models represent two different bank accounts.


 * The blue exponential growth model represents a bank account where a person deposited $1000 with a $50 bonus for signing up. The account has a 4.99% interest rate and the interest is compounded annually.**


 * The red exponential growth model represents a bank account where a person deposited $1000. The account has a 5.99% interest rate and the interest is compounded monthly.**
 * Compare and contrast the two bank accounts in your online journal by answering the following questions:**
 * Write a function that represents the red exponential growth model.
 * What is the y-intercept of each function? Explain in the context of the situation.
 * Which account is better? Is this always true? Be specific, using dates and account values from the graph to support your argument.
 * Which account would you choose when opening to save up for your college in a few years and why?
 * Would you choose that same account to start your child's college fund (if you had a child) and why?

Answer:
 * 1000(