Question

Percent rate of change for the function y=(.94)^x

Answer 1

$\bf \qquad \textit{Amount for Exponential Decay}\\\\ y=I(1 - r)^x\qquad \begin{cases} y=\textit{accumulated amount}\\ I=\textit{initial amount}\\ r=rate\to r\%\to \frac{r}{100}\\ x=\textit{elapsed time}\\ \end{cases} \\\\\\ y=(0.94)^x\implies y=(1~-~\stackrel{r}{0.06})^x \\\\\\ r=0.06\implies r\%=0.06\cdot 100\implies r=\stackrel{\%}{6}$