Solve for x. Round your answer to 2 decimal places.
2 answers:
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Given:
Growth rate = 30% decrease
To find:
The growth factor associated with the given growth rate.
Solution:
The general exponential function is:
Where, a is the initial value, r is the growth rate in decimal and is the growth factor.
It is given that the growth rate is 30% decrease. So,
Now,
Therefore, the growth factor is 0.7.