Question

Classify the model as Exponential GROWTH or DECAY.
A=10(1.01)^3

Answer 1

GROWTH

Explanation:

Given the Exponential function;

A=10*
`1.01^(3)`

As we can see in the given function above:

the base number is 1.01 which is greater than 1 hence the quantity increases,

slowly at first and then very rapidly over its domain. The rate of growth becomes faster as time passes.

The growth "rate" (r) is determined as b = 1 + r.

In this situation, the rate growth is = 1.01 -1 = 0.01

Hope it will find you well.