Miranda wants to give her 14-year-old daughter $20,000 when she turns 18. How much does she need to put in the bank now if the i
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Hi there!
f(x) = 2(1/5)ˣ
Recall the form of an exponential function:
f(x) = a(b)ˣ where:
a = initial value
b = rate of decay/growth
If b > 1, the function is undergoing exponential growth. If b < 1, then the function is undergoing exponential decay.
1/5 < 1, so the function is undergoing exponential decay, not growth.