Big Ideas Math - Algebra 1, A Common Core Curriculum

Published by Big Ideas Learning LLC
ISBN 10: 978-1-60840-838-2
ISBN 13: 978-1-60840-838-2

Chapter 6 - Exponential Functions and Sequences - 6.1-6.4 - Quiz - Page 324: 15

Answer

The function represents exponential growth and the rate of growth is $26\%$.

Work Step by Step

The given function is $\Rightarrow f(t)=\frac{1}{3}(1.26)^t$ $\Rightarrow f(t)=\frac{1}{3}(1+0.26)^t$ The function is of the form $y=a(1+r)^t$, where $1+r>1$. So, it represents exponential growth. Growth factor is $\Rightarrow 1+r=1.26$ Subtract $1$ from each side. $\Rightarrow 1+r-1=1.26-1$ Simplify. $\Rightarrow r=0.26$ $\Rightarrow r=26\%$. Hence, the function represents exponential growth and the rate of growth is $26\%$.
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