Question

Write an exponential function that models the info below.

An initial value of 1,425 increasing at a rate of 5%.

Answer 1

y = 1425 * (1 + 0.05)^x

Explanation:

An exponential function of the form y = a * b^x can be used to model exponential growth or decay, where a is the initial value, b is the base (growth or decay factor), and x is the time period. In this case, the initial value is 1,425 and the rate of increase is 5%. We can write this as an exponential function as follows:

y = 1425 * (1 + 0.05)^x

where y is the final value after x time periods, and x is the number of time periods (in years, for example). To find the value of the function after x time periods, you can substitute the value of x into the equation.