Find the annual percent increase of decrease that y = 0.35(2.3)^x models.
a) 230% increase
b) 130% increase
c) 30% decrease
d) 65% decrease
The formula for percent increase or decrease is:
percent increase/decrease = (new value - old value) / old value * 100%
In this case, the old value is y = 0.35(2.3)^x and the new value is y = 0.35(2.3)^(x+1) (since we are looking at an annual increase or decrease).
So, the percent increase/decrease is:
percent increase/decrease = (0.35(2.3)^(x+1) - 0.35(2.3)^x) / 0.35(2.3)^x * 100%
Simplifying this expression, we get:
percent increase/decrease = (2.3 - 1) * 100% = 130% increase
Therefore, the answer is (b) 130% increase.