What is the percent rate of change in the function y=(1.1)^x? Determine whether the function represents exponential growth or decay.
Responses
1%; exponential decay
1%; exponential growth
10%; exponential growth
10%; exponential decay
The percent rate of change in the function y=(1.1)^x can be found by calculating the difference between two consecutive values and then dividing by the original value. However, since we are given the base as 1.1, the percent rate of change is simply 10%.
Since the percent rate of change is positive (10%), the function represents exponential growth.