Question

PLEASE HELP I NEED THIS ASAP

Answer 1

Given:

The exponential function is

$y=2200(1.074)^x$

To find:

The percentage rate of increase or decrease.

Solution:

The general form of an exponential function is

$y=a(1+r)^x$         ...(i)

Where, a is the initial value, r<0 is the rate of decrease, r>0 rate of increase, x is time period.

We have,

$y=2200(1.074)^x$

It can be written as

$y=2200(1+0.074)^x$           ...(ii)

On comparing (i) and (ii), we get

$r=0.074$

r>0, so the it is the rate of increase. Multiply it by 100 to get the percentage rate of increase.

$r=0.074\times 100\%$

$r=7.4\%$

Therefore, the percentage rate of increase is 7.4%.