Question

Using the given table of an exponential function, determine the growth/decay factor as well as the rate of increase/decrease. Type your answers in as numbers. Example: Growth Factor: 3.5, Rate of Increase: 2.5. (Do not input your rate of increase as a percent.)

Answer 1

The growth rate is 0.6

The growth factor is 1.6

Explanation:

Generally, the exponential equation can be written as;

y = a(1 + r)^x

Where a is the initial value of 100

r is the growth rate

So let us form equations;

160 = 100(1 + r)^1 •••••(i)

Also;

256 = 100(1 + r)^2 •••••••(ii)

Divide equation ii by i

256/160 = 1 + r

1.6 = 1 + r

r = 1.6-1

r = 0.6