Question

Consider the function y = (1.68)3 . If t is measured in years, what isthe percent change in y every year? Round your answer to the nearesthundredth of a percent.

Answer 1

The given function is:

`y=(1.68)^{(t)/(3)}`

Hence at t=1 and t=2 the values are:

`\begin{gathered} y_1=(1.68)^{(1)/(3)}=1.8878 \\ y_2=(1.68)^{(2)/(3)}=1.4132 \end{gathered}`

Hence the percentage change is given by:

`\Delta y=(y_2-y_1)/(y_1)*100=(1.4132-1.8878)/(1.8878)*100=-25.1404`

Hence y reduces by 25.14% from year 1 to year 2.