Question

If an exponential curve intersects the y- axis at 10 and has a growth rate of 1.6, what is the equation of exponential function?

Answer 1

Answer: $y = 10\cdot 2.6^t$

Explanation:

The general formula for an exponential function is:

$y=a\cdot (1+r)^t$

with "a" the initial value and "r" the growth rate.

We are given the value at time 0:

$10=a\cdot 2.6^0 = a$

Therefore the initial value is 10 yielding the answer above.

(there is a slight chance that your teacher defines "growth rate" not as the "r" as in (1+r) but as the entire "(1+r)" in which case you should replace 2.6 by 1.6.