Question

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

y=8900(1.362)x

Answer 1

Growth & 36.2%

Explanation:

Exponential Growth Formula

A = A0 (1 + r)^t

A is the amount after certain number years

A0 is the initial amount

r is the rate

t is the number of years

Growth models are identified by the number between the parenthesis. If the number is greater than 1, then it represents a growth model. If the number is less than 1, then it represents a decay model.

To find the percentage by which it increases, you would simply convert the decimal. 1.362 becomes 36.2%. You move the decimal point two places to the right and add a percentage symbol next to it.