The exponential growth or decay function is a function that grows or shrinks at a constant percent growth rate. The equation can be written in the following form:
[tex]f(x)=a(1+r)^x[/tex]or
[tex]f(x)=ab^x\text{ where b= 1+r}[/tex]here
a is the initial or starting value of the function or initial population.
r is the percent growth or decay rate, written as a decimal
and
b is the growth factor or growth multiplier.
Now, consider the following exponential model:
[tex]f(t)=523\left(1.099\right)^t[/tex]notice that in this case:
a = 523
according to the definition of exponential growth, we can conclude that the correct answer is:
