Question

The expression 1.5*1.09 models the housing costs, in thousands of dollars, for summer term t years since Chinedu applied to his college. What does 1.09 represent in this expression? Choose 1 answer:

Answer 1

Answer: Multiplicative rate of change in housing costs, for summer term t years since Chinedu applied to his college.

Step-by-step explanation:

Given: $1.5\times1.09^t$ models the housing costs, in thousands of dollars, for summer term t years since Chinedu applied to his college.

Since, the above expression is an exponential function. [ t is the exponent ]

The standard exponential function is given by :-

$y=Ab^x$, A is the initial amount , b is the multiplicative rate of change with respect to time period x.

as compare to the given expression, we get b= 1.09, which is the multiplicative rate of change in the housing costs, for summer term t years since Chinedu applied to his college.