Growth or Decay? Exponential growth Percent Rate of Change: 88 %
Practice makes perfect
Let's start by recalling the general formula of exponential growth and exponential decay functions.
cc
Exponential Growth & Exponential Decay [0.8em]
y=a(1+r)^t & y=a(1-r)^tIn both cases, a and r are positive numbers. For exponential decay, r is less than 1. Let's rewrite the given function to match one of the above formulas.
Our function matches the format of exponential growth. Here a= 3 and r= 0.88.
y= 3(1+ 0.88)^t
This means that the rate of growth, also known as the percent of change, is 88 %.
