Question

Question 1 ask the same thing but only they ask if the account is growing or decaying and it was growing so nowQuestion 2 what is the rate of growth or decayA 250B 0.97C 0.03D 1.03

Answer 1

.Explanation

The question gives us an exponential equation and asked that we determine the growth rate

Growth rates refer to the percentage change of a specific variable within a specific time period

From the given expression:

$f\mleft(x\mright)=250\left(1.03\right)^x$

If we are to deduce the growth rate, then we will have to compare it with the general formula

$\begin{gathered} f\lparen x)=A\left(b\right)^x \\ where\text{ b is the growth factor} \end{gathered}$

The growth factor is the factor by which a quantity multiplies itself over time. The growth rate is the addend by which a quantity increases (or decreases) over time

Thus, in our case

$\begin{gathered} Growth\text{ factor=b=1.03} \\ Growth\text{ rate =Growth factor -1} \end{gathered}$

Thus

$Growth\text{rate=Growthfactor-1=1.03-1=0.03}$

Hence, the growth rate is 0.03

Because the account increases by 0.03 overtime

The answer is 0.03