Given the following exponential function, identify whether the change represents growth or decay, and determine the percentage rate of increase or decrease. y=620(0.941)^x y=620(0.941) x

Answer 1

The term that is raised to the x variable is telling us whether an equation represents exponential growth or decay. If this value is less than 1, then it is representing exponential decay and if it greater than 1 it is representing exponential growth. So because 0.941 < 1, this equation represents exponential decay. We can find the percentage rate decrease by subtracting 0.941 from 1 to get 0.059. If we multiply this value by 100 to get percent, we find that there is a 5.9% decrease.