The weekly growth rate in this case is 1.6%.
The weekly growth rate, you need to convert the time unit from years to weeks.
There are 52 weeks in a year, so you can use the conversion factor (1 year / 52 weeks).
Rewrite the function in terms of weeks:
Now, you can identify the weekly growth rate, which is the base of the exponential term.
In this case, it's 1.016.
The weekly growth rate is 1.016, and you can express it as a percentage by subtracting 1 and multiplying by 100: Weekly growth rate = (1.016 - 1) * 100%
Weekly growth rate= 1.6%.
Therefore, the weekly growth rate is 1.6%.