Question

Suppose the graph of the exponential function E(x)= 1500(1.03)^x passes through the point (7,1845). What is the average rate of change, to the nearest hundredth, from the initial value to the given point?

Answer 1

The answer is 49.29

Explanation:

The average rate of change in this case will be given by the slope of the straight line connecting the points (7,1845) and (0,1500). The initial value is determined by substituting x=0 in the function and solving for the value of E(0) which in this case is 1500