Question

Given the following exponential function, identify whether the change represents growth or decay, and determine the percentage rate of increase or decrease.

y = 46(1.034)^x

Answer 1

The given exponential function represents exponential growth with a percentage rate of increase of 3.4%.

Step-by-step explanation:

The given exponential function is y = 46(1.034)^x.

To determine if the change represents growth or decay, we need to look at the base of the exponential function. In this case, the base is 1.034, which is greater than 1. Since the base is greater than 1, the exponential function represents exponential growth.

To determine the percentage rate of increase, we can use the formula Rate = (base - 1) x 100%. In this case, the rate is (1.034 - 1) x 100% = 3.4%. Therefore, the percentage rate of increase is 3.4%.