Find the monthly growth rate as a percentage given this exponential function: f(t)=5,400(1.021)^t​

Question

Find the monthly growth rate as a percentage given this exponential function: f(t)=5,400(1.021)^t​

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Philomena 4 years 2021-09-05T03:13:13+00:00 1 Answers 17 views 0

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  1. vankhanh
    0
    2021-09-05T03:14:52+00:00
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    Answer:

    The monthly growth rate is 2.1%

    Step-by-step explanation:

    To find the monthly growth rate, we have to consider what is inside the bracket

    Mathematically, what we have in the bracket should be written as;

    1 + r

    Thus;

    1 + r = 1.021

    r = 1.021-1

    r = 0.021

    This is same as 2.1%

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