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The monthly revenue of the business grows by 8%, monthly
<h3>What is an exponential function?</h3>An exponential function is any function that has its constant raised to the power of an argument.
An exponential function is represented as:
Where:
- a represents the initial value
- b = 1 + r; r represents the rate
From the table we have the following ordered pair
(x,y) = {(0,72000) (3,90000)}
So, we have:
Divide both sides by 72000
Take the cube roots of both sides
Recall that:
So, we have:
Subtract 1 from both sides
Express as percentage
Hence, the monthly revenue of the business grows by 8%, monthly
Read more about exponential functions at: