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The function represents exponential growth with the initial value equal to 1, the decay factor equal to 0.3, and the rate equal to 0.7.
<h3>Population Growth Equation</h3>
The formula for the Population Growth Equation is:
Pf= future population
Po=initial population
r=growth rate
t= time (years)
growth or decay factor = (1 ±r)
When 1+R > 1, the equation represents growth, while 1+R < 1 the equation represents decay.
The question gives:
, then
Pf=y
Po= 1
, thus
r= -70%= -0.7
decay factor= (1-0.7)=0.3
Therefore,
1+R will be = 1+(-0.7)=1 - 0.7 =0.3
When 1+R >1, the function represents exponential growth.
Read more about the exponential function here: