wth an income of 36,000 and an inflation of 3% what is the exponential equation?

Question

With an income of 36,000 and an inflation rate of 3% each year, what is the exponential equation?

Answer 1

The formula for exponential growth is 

 

A = p(r)^x, where r is the rate of growth, A is the final amount, p is the principle

 

y = 36000(0.03)^x