y=(1.45)^t/4 What is the rate of change?

Question

Is the rate of change 45%???

Answer 1

To solve for the rate of change, you need to rewrite the equation as y=[(1.45)^1/4]^t. Raise the power to a power and get the growth factor into a single value in the form  (1 + rate) so y=(1.097)^t. The rate of change will be approximately 9.7%