Explanation:
Given equation:
The multiplier is a 3.1, the coefficient of the exponent and it is a positive number greater than 1.
The y-intercept is the intersection of the graph with the y-axis.
It is obtained at the zero input value:
- P(0) = 3.1*(1.016)^0 = 3.1*1 = 3.1
This is same value mentioned above.