Given the following exponential function, identify whether the change represents growth or decay, and determine the percentage rate of increase or decrease.y, equals, 220, left parenthesis, 1, point, 0, 9, right parenthesis, to the power xy=220(1.09) x
Question
Given the following exponential function, identify whether the change represents growth or decay, and determine the percentage rate of increase or decrease.y, equals, 220, left parenthesis, 1, point, 0, 9, right parenthesis, to the power xy=220(1.09) x
Solution
The given function is y = 220(1.09)^x.
This is an exponential function, and we can identify whether it represents growth or decay by looking at the base of the exponent, which is 1.09 in this case.
Since 1.09 is greater than 1, this function represents growth.
To find the percentage rate of increase, we subtract 1 from the base of the exponent and multiply by 100%.
So, the percentage rate of increase is (1.09 - 1) * 100% = 9%.
Therefore, the function represents a 9% rate of growth.
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