Question

Given the following exponential function, identify whether the change represents growth or decay, and determine the percentage rate of increase or decrease. Y=8800(1. 573)^x

Answer 1

The change is exponential growth and the percent increase is 57.3%

Explanation:

An exponential growth function is represented by the equation

f(x)=a(1+r)^t

As such r is equal to 0.573, or 57.3%