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Exponential Growth and Decay in the Real World

Exponential Growth and Decay in the Real World. Introduction/task. In this project, you, the student, will be in charge of investigating the best way to invest a particular amount of money (received upon graduation of college) in such things as a car, a place to live, etc. Process-Part 1.

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Exponential Growth and Decay in the Real World

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  1. Exponential Growth and Decay in the Real World

  2. Introduction/task • In this project, you, the student, will be in charge of investigating the best way to invest a particular amount of money (received upon graduation of college) in such things as a car, a place to live, etc.

  3. Process-Part 1 • Upon graduating from college, you receive a $20,000 check from your grandmother. She wants you to put it in a savings account so that it can grow over the years. Click the arrow to investigate different potential banks to invest in. • Be sure to pay attention to interest, extra fees, and minimum required balances. • Calculate how much your money will grow over a 10-yr period in the different banks by using the exponential growth function • Document your findings. • Complete this part before moving on to the next one

  4. Process-Part 2 • Now that you’ve invested your money, it’s time to look into buying a new car. It’s your job to learn how much cars depreciate so you can determine whether it’s worth it to put money into a new car, or keep the one you have. • Click the arrow for specific instructions, and links to websites to gather information on cars. • Document your findings.

  5. Process-Part 3 • It’s time to look into buying a house! Look at different houses that are for sale. Include a copy of the advertisement. • Click the arrow for full instructions and links to helpful websites. • Document your findings.

  6. Evaluation

  7. Conclusion • Hopefully now you have a better understanding of how investing money works, and how the exponential functions relate to it. May you take this knowledge with you out into the real world and better your lives!

  8. Credits • For this “webquest”, I followed the general format of a webquest found at this link: Webquest: Exponential Growth and Decay • See the Creative Commons Attribution~Non-Commercial~Share-Alike license for details on using or modifying this webquest.

  9. Potential Banks in Which to Invest • Bank of America • Suntrust • BB&T • Wachovia

  10. Instructions/Links for Part 2 • Decide on a used automobile you’d like to purchase, for which there’s an ad in the newspaper, etc. Attach a copy of the ad to your work. The car must be at least 5 years old. • For the car, you must: • Determine current price • Determine original price • Find rate of depreciation by using an exponential equation model • Using this, what will the car be worth in 3 years? • Is a car an investment or not? Auto TraderCars.comCarmax

  11. Instructions/Links for Part 3 • What is the current value of the house? Original value? • How old is the house? • Write an equation to represent the rate of appreciation and determine the rate. • What will the price of the home be in 15 years? • Is a house an investment or not? PrudentialCentury21RE/MAX

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