Answer:
Exponential growth; percentage rate of growth is 4%.
Step-by-step explanation:
The function,
[tex]f(x)=3.6.(1.04)^x[/tex]
represents an exponential growth function because the growth factor is greater than 1.
The general form of an exponential growth function is,
[tex]y=a(1+r)^t=(a).(ar)^t[/tex], where 'r' is the percentage rate of growth.
If we compare the given equation with the standard form of the equation we can see that, we have,
[tex]f(x)=3.6(1+0.04)^x[/tex]
Therefore, the percentage rate of growth is = [tex]0.04 \times 100=4\%[/tex] .
