What is the solution of the following systems?
2 answers:
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Using an exponential function, it is found that it's annual growth rate is of 4%.
<h3>What is an exponential function?</h3>An increasing exponential function is modeled by:
In which:
- A(0) is the initial value.
- r is the growth rate, as a decimal.
In this problem, the card appreciates exponentially in value by 50% over 10 years, hence:
A(10) = 1.5A(0).
Thus:
1 + r = 1.04.
r = 0.04.
0.04 x 100% = 4%.
It's annual growth rate is of 4%.
More can be learned about exponential functions at brainly.com/question/25537936