Question

The table shows the monthly revenue of a business rising exponentially since it opened an online store

Answer 1

The monthly revenue of the business grows by 8%, monthly

What is an exponential function?

An exponential function is any function that has its constant raised to the power of an argument.

An exponential function is represented as:

$y = ab^x$

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:

$90000 =72000 \times b^3$

Divide both sides by 72000

$1.25 = b^3$

Take the cube roots of both sides

$b=\sqrt[3]{1.25}$

$b=1.08$

Recall that:

$b = 1+r$

So, we have:

$1+r = 1.08$

Subtract 1 from both sides

$r = 0.08$

Express as percentage

$r = 8\%$

Hence, the monthly revenue of the business grows by 8%, monthly

Read more about exponential functions at:

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