Question

PLEASE HELP I NEED THIS ASAP

Answer 1

Given:

The exponential function is

`y=2200(1.074)^x`

To find:

The percentage rate of increase or decrease.

Solution:

The general form of an exponential function is

`y=a(1+r)^x` ...(i)

Where, a is the initial value, r<0 is the rate of decrease, r>0 rate of increase, x is time period.

We have,

`y=2200(1.074)^x`

It can be written as

`y=2200(1+0.074)^x` ...(ii)

On comparing (i) and (ii), we get

`r=0.074`

r>0, so the it is the rate of increase. Multiply it by 100 to get the percentage rate of increase.

`r=0.074* 100\%`

`r=7.4\%`

Therefore, the percentage rate of increase is 7.4%.