Find the annual percent increase or decrease that y=0.35(2.3)^x

elvishwitchxyp

elvishwitchxyp

Answered question

2021-12-31

Find the annual percent increase or decrease that y=0.35(2.3)x models.

Answer & Explanation

eninsala06

eninsala06

Beginner2022-01-01Added 37 answers

Given model
y=0.35(2.3)x (1)
We know the exponential growth function
y=A(1+γ)x (2)
Where A = initial amount
γ = annual percent
x = numbers of years
From equation (1) and (2)
A=0.35
1+γ=2.3
γ=2.31
γ=1.3
γ=1.3×100%
γ=130%

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