Explanation Given: A quantity decrease by 3 % for each 5 years . Approach: A function is exponential if it shows constant percentage growth or decay. 1. For an exponential function with a discrete (yearly, monthly, etc.) percentage growth rate r as a decimal, the growth factor is a = 1 + r . 2. For an exponential function with a discrete percentage decay rate r as a decimal, the decay factor is a = 1 − r . Calculation: The quantity is decreasing by 3 % for each 5 years . Calculate the yearly decay factor. Yearly Decay factor = 1 − r Here, r is the decay rate. Substitute 3 % for r in the above expression. Yearly Decay factor = 1 − 3 % = 1 − 3 100 = 0.97 Now calculate the decay for a period of 5 years. Decay factor for 5 years = ( Yearly Decay factor ) 5 Substitute 0

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN: 9781337111348

Author: Bruce Crauder, Benny Evans, Alan Noell

Publisher: Cengage Learning

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Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

Ch. 4.1 - TEST YOUR UNDESTANDING| FOR EXAMPLE 4.1...Ch. 4.1 - TEST YOUR UNDERSTANDING| FOR EXAMPLE 4.2 In a...Ch. 4.1 - Prob. 3TU Ch. 4.1 - Reminder Round all answers to two decimal places...Ch. 4.1 - Reminder Round all answers to two decimal places...Ch. 4.1 - Reminder Round all answers to two decimal places...Ch. 4.1 - Reminder Round all answers to two decimal places...Ch. 4.1 - Reminder Round all answers to two decimal places...Ch. 4.1 - Reminder Round all answers to two decimal places...Ch. 4.1 - Reminder Round all answers to two decimal places...

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