Question

In the exponential growth function y = 235(1.15)^x, what is the

1:growth factor

2: percent increase

Answer 1

Answer: Growth factor will be 0.15 and percent increase will be 15%.

Explanation:

Since we have given that

the exponential growth function

`y=235(1.15)^x`

1) We need to find the growth factor :

As we know the formula for "Compound Interest ":

`A=P(1+(r)/(100))^x`

If we compare the formula with our given equation, we get

`1+(r)/(100)=1.15\\\\(r)/(100)=1.15-1\\\\(r)/(100)=0.15\\\\r=0.15* 100\\\\r=15`

So, the growth factor is at the rate of 0.15.

2) Percent increase will be

`0.15=(15)/(100)* 100\\\\=15\%`

Hence, growth factor will be 0.15 and percent increase will be 15%.