walter's salary this year is $23,400. If this is $1,700 more than he made last year, what was his salary last year?
1 answer:
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The exponential function is given in the form
where a is the initial value and b is the multiplicative rate of change
So lets plug the first two values of the table in this function , we get
or
Now plug second
Divide equation 2 by equation 1
On simplifying we get
or
So the multiplicative rate of change of the function is