Write the decimal 1.0056 in word form
2 answers:
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Answer: Growth factor will be 0.15 and percent increase will be 15%.
Step-by-step explanation:
Since we have given that
the exponential growth function
1) We need to find the growth factor :
As we know the formula for "Compound Interest ":
If we compare the formula with our given equation, we get
So, the growth factor is at the rate of 0.15.
2) Percent increase will be
Hence, growth factor will be 0.15 and percent increase will be 15%.