Question

Need the answer ASAP

Answer 1

Linear and the growth factor is 1.03 per year

Answer 2

Answer:

Option D.

Step-by-step explanation:

Year 1 to year 2: 61.75 - 59.95 = 1.80

Year 2 to year 3: 63.60 - 61.75 = 1.85

Year 3 to year 4: 65.51 - 63.60 = 1.91

From year 1 to year 2, year 2 to year 3, and year 3 to year 4, the difference in years is always 1 year. For a linear function, the change in cost would have to be equal for those same three changes in cost. The changes in cost were 1.80, 1.85, and 1.91. The changes in cost are different for the same change in time, so it is not linear.

61.75/59.95 = 1.03

63.60/61.75 = 1.03

65.51/63.60 = 1.03

Each cost is 1.03 times the cost of the previous year. It is an exponential function with growth factor 1.03.