Question

help solve for initial value, the 1 unit growth/decay factor, the 1 unit percent change and the function for both parts a and b

Answer 1

we have that

i. Initial value

value of the function for t=0

the initial value is 23

ii.For t=1

k(t)=23(b)^t

k(1)=23(b)

29.67=23b

b=1.29

Part B

initial value ------>

iii. percent change

b=1+r

1.29=1+r

r=0.29

r=29%

iv. the equation is

k(t)=23(1.29)^t