Question

Given the following exponential function,

identify whether the change represents
growth or decay, and determine the
percentage rate of increase or decrease.
y = 25(1.071)^x

Answer 1

Explanation:

The given exponential function will grow at 6.1%

Given,

y =

To find,

identify whether the change represents growth or decay, and determine the percentage rate of increase or decrease.

Solution,

We have,

y =

The equation represents exponential growth because the growth factor is greater than 1.

The general form equation is:

y(x)= a(1-r)^x such that r is the growth percent.

==> 1+r = 1.061

==> r = 0.061 = 6.1%