Question

Decide whether the function is an exponential growth or exponential decay function, and find the constant percentage rate of growth or decay.

f(x) = 2.9 ⋅ 1.02x

Exponential growth function; 2%
Exponential growth function; 0.02%
Exponential growth function; 102%
Exponential decay function; 102%

Answer 1

Exponential growth function; 102%

Explanation:

Answer 2

Exponential growth function; 2%

Explanation:

`f(x) = 2.9 (1.02)^x`

Exponential growth function is in the form of
`f(x)= a(1+r)^t`

Exponential decay function is in the form of
`f(x)= a(1-r)^t`

Where 'r' is the exponential growth factor

To get % we multiply by 100

Exponential growth factor is
`1+r= 1.02`, solve for r

Subtract 1 on both sides

`r= 0.02`

Multiply it by 100

`0.02 \cdot 100`=2%

Exponential growth function; 2%