Question

2. You deposit $1200 into a bank account. Every year that accounts increase by 15 %.

a) Identify whether this an Exponential Growth or Decay function and write the equation of the
function

Answer 1

Exponential Growth, 1200(1.15)

Explanation:

It is a Growth function because it is "increasing" yearly. The equation is multiplying with 1.15 because when it is increasing, you need to add 1 to the percentage rate.