What is the value of x?
1 answer:
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Answer:
Option 3
The rate of change is -5%
Step-by-step explanation:
Given : An exponential function for compounding interest,
To find : What is the rate of change?
Solution :
The general form of an exponential function is:
Where, a is the initial amount,
(1+r) is the rate of change,
r is the growth or decay factor
We have given,
Rate of change is
Convert to percent,
Therefore, Option 3 is correct.