Dan invests £1200 into his bank account. He receives 5% per year compound interest. How much will dan have after5 years?
1 answer:
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Answer:
Growth when: b>1.
Decay when: 0<b<1.
Step-by-step explanation:
Any function in the form , where a > 0, b > 0 and b not equal to
is called an exponential function with base b.
If 0 < b < 1 this is an example of an exponential decay.
The general shape of an exponential with b > 1 is an example of exponential growth.
Hence,
An exponential function is expressed in the form , The relation represents a growth when b >1 and a decay when 0<b<1.