2 years ago

Find the monthly growth rate as a percentage given this exponential function: f(t)=5,400(1.021)^t

Mathematics

1 answer:

choli [55]2 years ago

8 0

Answer:

The monthly growth rate is 2.1%

Step-by-step explanation:

To find the monthly growth rate, we have to consider what is inside the bracket

Mathematically, what we have in the bracket should be written as;

1 + r

Thus;

1 + r = 1.021

r = 1.021-1

r = 0.021

This is same as 2.1%

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Find the monthly growth rate as a percentage given this exponential function: f(t)=5,400(1.021)^t​

Find the monthly growth rate as a percentage given this exponential function: f(t)=5,400(1.021)^t