Answer:
It is growth and the percentage rate of increase is 7.5%
Step-by-step explanation:
The exponential equation is as follows;
y = 550(1.075)^x
Now, I can identify that the exponential equation is that of growth.
This is because what is in the bracket i.e can be represented as 1+ 0.075
The 0.075 represents the margin of increase as we move on from one value to another
The percentage rate can be gotten by expressing 0.075 as a percentage
That would be expressing is as a fraction
This is just 7.5/100 which means what we have is 7.5%
