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Exponential and Logarithmic Functions Obj. 12 Exponential Functions Obj. 13 Logarithmic Functions Obj. 14 Exponential and Logarithmic Equations Obj. 15 Exponential Growth and Decay
Properties of Exponents
Recall that for a variable x and integers a and b:
x a i x b = x a+ b
xa = x a b xb
(x )
a
= x ab
xa b = b xa xa = xb a = b
Simplifying Exponents
Example: Simplify
25x 3 y 2 z 2 1. = 5x 31 y 22 z 25 = 5x 2 y 4 z 3 5xy 2 z 5
2. 2r s t
23
2 3
= 24 r
1 2
4 ( 2 ) 4 ( 3 ) 4
t = 16r 8 s 12t 4
2 1 3 2
3. 5 y i 6 y
= (5)( 6 ) y
= 30 y
1 6
Exponential Functions
If a > 0 and a 1, then
f ( x ) = ax
defines the exponential function with base a. Example: Graph f ( x ) = 2x Domain: ( ) Range: ( ) y-intercept: ( 1)
Exponential Functions
Characteristics of the graph of f ( x ) = a x :
1 1. The points 1 a
2. 3. 4.
1)
(1 a )
If a > 1 then f is an increasing function; if < a < 1 then f is a decreasing function. The x-axis is a horizontal asymptote. The domain is ( ) and the range is ( ).
Exponential Equations
Exponential equations are equations with variables as exponents. If you can re-write each side of the equation using a common base then you can set the exponents equal to each other and solve for the variable. Example: Solve 5x =
1 125
125 = 53
5x = 53 x = 3
Exponential Equations
Example: Solve 3x +1 = 9x 3 x 3 x +1 2 3 = 3 9 = 32
( )
3x +1 = 3 ( ) 3x +1 = 32 x 6 x + 1 = 2x 6 7=x
2 x 3
Exponential Equations
To solve an equation with exponents remember you can undo the exponent by using the reciprocal. Solve b5 2 = 243
(b )
5 2
= ( 243)
b=9
Compound Interest
The formula for compound interest (interest paid on both principal and interest) is an important application of exponential functions. Recall that the formula for simple interest, I = Prt, where P is principal (amount deposited), r is annual rate of interest, and t is time in years.
Compound Interest
Now, suppose we deposit $1000 at 10% annual interest. At the end of the first year, we have I = (1000)( 0.1) = 100 so our account now has 1000 + .1(1000) = $1100. At the end of the second year, we have I = (1100)( .1) = 110 so our account now has 1100 + .1(1100) = $1210.
Compound Interest
Another way to write 1000 + .1(1000) is 1000 (1 + .1)
Compound Interest
If we continue, we end up with
Year 1 2 3 4 t Account $1100 $1210 $1331 $1464.10 1000(1 + .1) 1000(1 + .1)2 1000(1 + .1)3 1000(1 + .1)4 1000(1 + .1)t
Examples
1.
If $2500 is deposited in an account paying 6% per year compounded twice per year, how much is the account worth after 10 years with no withdrawals? 2(10 ) .06 A = 2500 1 + = $4515.28 2 What amount deposited today at 4.8% compounded quarterly will give $15,000 in 8 years? 4( 8 ) .048 15000 = P 1 + 4 15000 P (1.4648 ) P = $10,240.35
2.
Examples
3.
If $8000 is deposited in an account paying 5% interest compounded continuously, how much is the account worth at the end of 6 years?
.05 6
A = 8000e ( )( ) A = $10,798.87 4. Which is a better deal, depositing $7000 at 6.25% compounded every month for 5 years or 5.75% compounded continuously for 6 years? .0575 6 12(5 ) A = 7000e ( )( ) .0625 A = 7000 1 + = $9883.93 12 = $9560.11
Homework
College Algebra Page 429: 51-66, (3s), 67, 68, 69-78 (3s), 83 Classwork: Algebra & Trigonometry Page 247: 21-45 (3s)