Question

Given the exponential growth function f(x)=80(1.032) to the X power ( I don't know how to the the superscript, sorry.) What is the initial value of the function?What is the growth factor, or growth rate of the function (as a percent)?

Answer 1

We are given:

`f(x)=80(1.032)^x`

From this we have that the initial value of the function is 80.

The growth factor is 3.2%.

***Explanation***

We have that the exponentil growth function follows:

`f(x)=a_1(1+r)^x`

Here "a1" is the initial value and "r" is the rate in decimal form (0.1 = 10%, 1 = 100% and so on).