Question

60 = 5(1.07)^x

initial value:

a. 7%

b. 1.07%

c. 9.3%

d. 5

e. 60


growth or decay?


growth/decay rate?

a. 7%

b. 1.07%

c. 9.3%

d. 5

e. 60

Answer 1

see image

Explanation:

Plato/Edmentum

Answer 2

Given:

The given equation is

`60=5(1.07)^x`

To find:

The initial value and growth/decay factor.

Solution:

The general exponential growth/decay model is

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

where, a is initial value, if r>0, then |r| is growth factor, if r<0, then |r| is decay factor and x is time.

We have,

`60=5(1.07)^x`

It can be written as

`60=5(1+0.07)^x` ...(ii)

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

`a=5\text{ and }r=0.07`

Here, initial value is 5 and growth factor is 0.07, i.e., 7%.

Therefore, the correct option for first question is d and correct option for second question is a.