Given the following exponential function, identify whether the change represents growth or decay, and determine the percentage rate of increase or decrease.
y
=
170
(
1.02
)
x
y=170(1.02)
x
This exponential function represents growth. The percentage rate of increase is 2%.
To identify whether the change represents growth or decay in the given exponential function y = 170(1.02)^x, we need to examine the value inside the parentheses, which is 1.02.
Since the value inside the parentheses is greater than 1 (1.02 > 1), it represents growth.
To determine the percentage rate of increase, we can subtract 1 from the value inside the parentheses and multiply it by 100.
Rate of increase = (1.02 - 1) * 100
Simplifying the equation, we have:
Rate of increase = 0.02 * 100 = 2%
Therefore, the exponential function y = 170(1.02)^x represents growth with a 2% rate of increase.