Question

A restaurant chain currently owns 2000 restaurants. the chain's business model predicts that the number of restaurants in the chain will
grow by approximately 3% each year,
which equation represents the number of restaurants (y) the business model predicts the chain will own over time (1), in years?
a: y = 3(2000)
b:y = 2000(3)'
c: y = 1,03(2000)'
d: y = 2000(1.03)'

Answer 1

The exponential function that represents the number of restaurants after t years is given by:

d. $y = 2000(1.03)^t$

What is an exponential function?

An increasing exponential function is modeled by:

$A(t) = A(0)(1 + r)^t$

In which:

• A(0) is the initial value.

• r is the growth rate, as a decimal.

For this problem, the parameters are given as follows:

A(0) = 2000, r = 0.03.

Hence the function is given by:

$y = A(0)(1 + r)^t$

$y = 2000(1 + 0.03)^t$

$y = 2000(1.03)^t$

More can be learned about exponential functions at brainly.com/question/24808124

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