Chapter 6.4, Problem 42E

To determine

Whether the function represents exponential growth or exponential decay. Identify the percent rate of change.

Answer to Problem 42E

The function represents exponential growth and the rate of growth is $10\%$ .

Explanation of Solution

Giveninformation:

The exponential function is $y=15{(1.1)}^t$ .

The function is of the form $y=a{\left(1+r\right)}^t$ , where $1+r>1$ . Thus, the function represents the growth. Now, using the growth factor

  $1+r=1.1\Rightarrow r=0.1=10\%$ .

Conclusion:

Therefore, the function represents exponential growth and the rate of growth is $10\%$ .