Question

Which is an exponential growth function?

Answer 1

Answer:

$f(x)=120,000(1.055)^{x}$

Step-by-step explanation:

In this problem we have a exponential function of the form

$f(x)=a(b)^{x}$

where

f(x) a home's value

x the number of years

a is the initial value

b is the base

b=(1+r)

r is the rate of grown

we have

a=$120,000

r=5.5%=5.5/100=0.055

b=1+0.055=1.055

substitute

$f(x)=120,000(1.055)^{x}$