The value of b in the exponential function which is formed by Shanna for the price of land is 8% or 0.08.
<h3>What is percentage increase ?</h3>Percentage increase is the amount added to the initial value in the percentage part.
The value of a plot of land which is increases 8% every year has the current value of $350000.
The final value owner wants is $570000. Shanna writes an exponential function of the form, to model the value,v, of the land in t years as,
Here, in this exponential function the value of a is fixed or initial term which is $350000 and the value of b is the constant term which is change factor. Here, the value of b is 8%.
b=8%
b=8/100
b=0.08
Thus, the value of b in the exponential function which is formed by Shanna for the price of land is 8% or 0.08.
Learn more about the percentage increase here;
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