Math  /  Algebra

QuestionGiven the exponential growth function f(x)=78(1.005)xf(x)=78(1.005)^{x}
What is the initial value of the function? \square
What is the growth rate of the function (as a percent)? \square \%

Studdy Solution
Calculate the growth rate as a percentage. The growth rate r r is given by:
r=b1 r = b - 1
Convert this to a percentage by multiplying by 100:
r=(1.0051)×100=0.005×100=0.5% r = (1.005 - 1) \times 100 = 0.005 \times 100 = 0.5\%
The initial value of the function is 78 \boxed{78} .
The growth rate of the function is 0.5% \boxed{0.5\%} .

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