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The average profit of the local store is an illustration of an exponential function
The profit function is:
From the question, we have:
- Initial value (a) = 960
- Rate per year (b) = 88%
An exponential function is represented as:
So, the function that represents the profit per year is:
Divide x by 12 to get the monthly rate
Evaluate the exponent
Hence, the profit function is:
Read more about exponential functions at: