Question

In the exponential growth function y = 235(1.15)^x, what is the

Answer 1

Answer: Growth factor will be 0.15 and percent increase will be 15%.

Step-by-step explanation:

Since we have given that

the exponential growth function

$y=235(1.15)^x$

1) We need to find the growth factor :

As we know the formula for "Compound Interest ":

$A=P(1+\frac{r}{100})^x$

If we compare the formula with our given equation, we get

$1+\frac{r}{100}=1.15\\\\\frac{r}{100}=1.15-1\\\\\frac{r}{100}=0.15\\\\r=0.15\times 100\\\\r=15$

So, the growth factor is at the rate of 0.15.

2) Percent increase will be

$0.15=\frac{15}{100}\times 100\\\\=15\%$

Hence, growth factor will be 0.15 and percent increase will be 15%.