For this case we have a function of the form:
[tex] y = A * (b) ^ x
[/tex]
Where,
A: amount or initial value
b: rate of change
x: independent variable
y: dependent variable
We have two possible cases:
If 0 <b <1:
The exponential function is decreasing
if b> 1:
the exponential function is increasing.
For this case we have the following function:
[tex] f (x) = 7.2 * (1.08) ^ x
[/tex]
For this case we have to:
[tex] b = 1.08
[/tex]
Therefore, the exponential function is increasing.
The percentage of growth is:
[tex] (1.08-1) * (100) = 8%
[/tex]
Answer:
The exponential function is increasing.
The exponential function grows 8% for each value of x.
