1) A certain gentleman acquired 54 gold bonds issued by the Weimar Republic in 1934. The value of each was 2500 troy ounces of gold. The bonds matured in 1954, at which time the value of each was 2500 troy ounces of gold at 1954 prices. The price of gold at that time was around $350 per troy ounce. The bonds could not be redeemed because in 1954 there was no single German countryit had been divided into two nations. But provisions of the bond stated that from 1954 onward the unredeemed bonds grew in value according to the exponential formula

Value = Initial value 1.00019^365t,

wheretis the number of years since 1954.

What was the total value of this man's 54 bonds in 2014? Give your answer in billions of dollars rounded to two decimal places.

$____________ Billion

If the bonds remain unredeemed in 2028, what will be their total value? Give your answer in billions of dollars rounded to two decimal places.

$_________Billion

2) Initially, a population is 500, and it grows by4% each year. Explain why the population is an exponential function of time.

This answer has not been graded yet.

Find a formula for the population at any time. (Lettrepresent time in years andPrepresent the population size.)

Determine the population size after10years. (Round your answer to the nearest whole number.)

From 1929 through the early 1930s, the prices of consumer goods actually decreased. Economists call this phenomenondeflation. The rate of deflation during this period was about 7% per year, meaning that prices decreased by 7% per year. To get a sense of what this rate would mean in the long run, let's suppose that this rate of deflation persisted over a period of20 years.

What would be the cost after 20 years of an item that costs $200initially? (Round your answer to the nearest cent.)

3) In many cases, removing dangerous chemicals from waste sites can be modeled using exponential decay. This is a key reason why such cleanups can be dramatically expensive. Suppose for a certain site there are initially 20 parts per million of a dangerous contaminant and that our cleaning process removes 5% of the remaining contaminant each day.

How much contaminant (in parts per million) is removed during the firstfivedays? Round your answer to two decimal places.

4)Many physical processes are exponential in nature. A typical way of cleaning a tank of contaminated water is to run in clean water at a constant rate, stir, and let the mixture run out at the same rate. Suppose there are initially 100 pounds of a contaminant in a large tank of water. Assume that the cleaning method described above removes30% of the remaining contaminant each hour. Round your answer to one decimal place.

How much contaminant isremovedfrom the tenth(t= 10)

to the thirteenth(t= 13)

hour of the cleaning process?

5) In many cases, removing dangerous chemicals from waste sites can be modeled using exponential decay. This is a key reason why such cleanups can be dramatically expensive. Suppose for a certain site there are initially 20 parts per million of a dangerous contaminant and that our cleaning process removes 5% of the remaining contaminant each day.

How much contaminant (in parts per million) is removed during the firstfivedays? Round your answer to two decimal places.