Question

given the following exponential function, identify whether the change represents growth or decay, and determine the percentage rate of increase or decrease.
( y = 8900(1.362)^x )

Explanation:

Step1: Identify growth/decay factor

Exponential form: $y = a(1+r)^x$, where $1+r$ is the base. Here, base $=1.362>1$, so it's growth.

Step2: Calculate percentage rate

Subtract 1 from the base to find $r$.
$r = 1.362 - 1 = 0.362$
Convert to percentage: $0.362 \times 100 = 36.2\%$

Answer:

Growth, 36.2% increase