INFORMATION:
We have the next function
We must rewrite it in the form y = a(1+r)^t or y = a(1-r)^t and state the growth or decay rate
STEP BY STEP EXPLANATION:
To rewrite the function:
1. Write the original function
2. Use exponential properties
3. Simplify
4. Rewrite in form y = a(1-r)^t
Finally, r = 0.14. That means that the rate is 14% and since we used the form y = a(1-r)^t, it is a decay rate.
ANSWER:
1.
2. The rate is 14%
3. This is a decay rate.