Question

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

y = 21(1.08)
a) Growth
b) Decay
c) 8% increase
d) 21% decrease

Answer 1

The given exponential function represents growth with an 8% increase.

Step-by-step explanation:

The given exponential function is y = 21(1.08).

To identify whether the change represents growth or decay, we need to look at the base of the exponential function. In this case, the base is 1.08.

If the base is greater than 1, it represents exponential growth. So, the change in this function represents growth.

To determine the percentage rate of increase, we need to subtract 1 from the base (1.08) and multiply the result by 100.

Percentage rate of increase = (1.08 - 1) x 100 = 8%.

Therefore, the correct answer is:

a) Growth

c) 8% increase