Question

If t is measured in years, what is theConsider the function y(1.09)percent change in y every year?

Answer 1

Percentage increase every year is 9%

Step-by-step explanation:

If we have a function of the form

`y=(1+a)^t`

then a* 100% is the percent increase.

Now, the function

`y=(1.09)^t`

can be rewritten as

`y=(1.00+0.09)^t`

meaning a = 0.09; therefore, the percent increase is

`0.09\cdot100\%`
`=9\%^{}`

which is our answer!