Rewrite r(t)=(0.88)4t in the form y=a(1+r)t or y=a(1−r)t to determine whether it represents exponential growth or exponential decay. Round a and r to the nearest hundredth if necessary.
The given equation, r(t) = (0.88)4t, can be rewritten as y = a(1 + r)t by taking a = 1 and r = 0.88.
Therefore, the equation represents exponential growth.