Final answer:
An exponential function models a situation with constant growth rate. The equation for this situation is y = 8 * (1 + 0.0076)^x.
Step-by-step explanation:
An exponential function models a situation where the growth rate is constant over time.
In this case, the function starts at 8 and has a growth rate of 0.76%.
The equation to model this situation is:
y = 8 * (1 + 0.0076)^x
Where y represents the value at any given time x.