Question

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

y=28(1.01)x

Answer 1

Explanation:

I assume you mean

y = 28(1.01)^x

if I multiply something by a number that is even slightly larger than 1, the result will be bigger than the original "something" (except for 0, of course. where the result will be 0 again).

if I multiply by a number between 0 and 1, then the result will be smaller.

so, with growing x y will also grow.

and with every increase of x by 1 we multiply the previous result by 1.01.

1 represents 100%.

0.01 represents 1/100 of 100% = 1%

1.01 = 100% + 1%

the the percentage rate of increase is 1%.