Question

Determine whether the function represents exponential growth or exponential decay. Identify the percent rate of change. y=3(1.88)^t

Exponential growth and decay
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asked 2021-02-02
Determine whether the function represents exponential growth or exponential decay. Identify the percent rate of change.
\(\displaystyle{y}={3}{\left({1.88}\right)}^{{t}}\)

Answers (1)

2021-02-03

We are given the function: \(\displaystyle{y}={3}{\left({1.88}\right)}^{{t}}\)
The function is in the form: \(y=a(1+r)^t\), where 1+r>1
Thus the function represents exponential growth. Using the growth factor 1+r, we find the rate of growth r: 1+r=1.88
r=1.88-1
r=0.88=88%

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