Question

Identify weather y=15(1.07)x is decay or growth

Answer 1

The function is growth with a growth rate of 7%

Explanation:

The equation is in the form.

y = a * b^x

if b > 1 then it is growth.

If b < 1 it is decay.

Since b > 1 it is growth. The growth rate is

b = 1+r

1.07 = 1+r

r= .07

7%

The function is growth with a growth rate of 7%