Answer:
Option C is correct.
Step-by-step explanation:
An exponential function is of the form: [tex]y =a(b)^x[/tex] ....[1] where a is the initial value, x is any real number and b is the growth factor
Also, the b value (growth factor) has been replaced either by (1 + r) or by (1 - r).
Then, the growth "rate" (r) is determined as b = 1 + r.
and the decay "rate" (r) is determined as b = 1 - r
- If b> 1, then it is exponential growth function.
- if 0<b< 1. then it is exponential decay function.
Also, b = 1+ 4
Given the equation: [tex]y = 50(1.15)^x[/tex]
On comparing given equation with [1] we get;
a = 50 and b = 1.15
Since, b = 1.15 > 1
Therefore, the given equation represents the exponential growth.
(A)
Yes, this [tex]y = 50(1.15)^x[/tex] equation represents the exponential growth.
(B)
Initial value (a) = 50
(C)
Here growth factor, b = 1.15
and
1+ r = 1.15.
⇒[tex]r = 0.15\%[/tex]
