identify whether the change growth or decay, and determine the percentage rate of increase or decrease. y, equals, 100, left bracket, 0, point, 9, 7, 1, right bracket, to the power x y=100(0.971) x

Answer 1

The initial value is 100. After the 1st period, the value becomes 0.971 x 100, or 97.1. After the 2nd period, the value is 0.971 x 0.971 x 100 = 94.2841. You can see that this is exponential decay because the factor is less than 1. The percentage rate of decrease is 1 - 0.971, or 0.029 (2.9%).