Guys please help me with this problem
2 answers:
Answer:
Step-by-step explanation:
In the exponential form of an equation, the growth or decay rate is found inside the parenthesis. The standard form of an exponential equation is
if it's growth, or
if it's decay.
Looking at those equations, logically a growth equation is greater than 1, while a decay equation is less than 1. Obviously, our function is a growth.
To determine the rate of growth, we look closely at (1.115) inside the parenthesis. BECAUSE that is greater than 1, we KNOW it is growth, therefore, it follows the (1 + r) pattern. Let's break up our (1.115) so it models that pattern:
(1.115) --> (1 + .115) and since these are percentages in their decimal form, it follows that 1 is 100% and .115 is 11.5%. Our growth rate is 11.5%
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Here is the answer. Hope this helps!
