Answer: 1.05 represents the growth factor of the function.
Step-by-step explanation:
In a general exponential growth equation :
[tex]y= Ab^x[/tex] , where A = initial value
b = growth factor
x = Time period
The given exponential function : [tex]1350(1.05)^t[/tex]
As we compare the given function to the general exponential growth equation , we get
b= 1.05
That meas the growth factor is 1.05.
Therefore , 1.05 represents the growth factor of the function.
Answer:
The averages wages in the US increase by about 5%, percent each year.
Step-by-step explanation:
