Answer:
a. Growth
b. 1.03
c. 3%
d. 1.4
Explanation:
In the exponential equation of the form
[tex]y=ab^x[/tex]The initial value is a, the growth (or decay) factor is b and the growth (or decay) rate is (b -1)*100%,
Furthermore, if b > 1 the equation represents a growth; if b < 1, then the equation represents decay.
Keeping the above in mind, we find that for the exponential function
[tex]y=1.4(1.03)^x[/tex]a. since 1.03 > 1, the relationship is a growth.
b. the value of b = 1.03; therefore, the growth factor is 1.03
c. The rate of growth = ( 1.03 -1 )*100% = 0.03 *100% = 3%
d. the value of a is 1.4; therefore, the initial value is 1.4.
Hence, the answers are
a. Growth
b. 1.03
c. 3%
d. 1.4
