What is the total amount that first consumer bank revive after lending Jane $7,000 for three years at an interest rate of 5 perc
1 answer:
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Answer:
Step-by-step explanation:
If an exponential function is in the form of y = a(b)ˣ,
a = Initial quantity
b = Growth factor
x = Duration
Condition for exponential growth → b > 1
Condition for exponential decay → 0 < b < 1
Now we ca apply this condition in the given functions,
1).
Here, (1 + 0.45) = 1.45 > 1
Therefore, It's an exponential growth.
2).
Here, (0.85) is between 0 and 1,
Therefore, it's an exponential decay.
3). y = (1 - 0.03)ˣ + 4
Here, (1 - 0.03) = 0.97
And 0 < 0.97 < 1
Therefore, It's an exponential decay.
4). y = 0.5(1.2)ˣ + 2
Here, 1.2 > 1
Therefore, it's an exponential growth.