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)

A. Growth, 3.4%
B. Growth, 34%
C. Decay, 3.4%
D. Decay, 34%

Answer 1

The given exponential function y = 46(1.034) represents exponential growth with a rate of increase of 3.4%.

Step-by-step explanation:

The question involves analyzing an exponential function to determine whether it represents growth or decay, and to identify the percentage rate of change. The given function is y = 46(1.034). Since the base of the exponent (1.034) is greater than 1, this indicates exponential growth. To find the percentage rate, we look at the value 1.034, which represents a 3.4% increase each period that the exponential function is applied, because the base is the equivalent of 100% of the original, plus an additional 3.4%. Thus, the correct answer is A. Growth, 3.4%