Answer:
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According to the function the change is 1.03.
It can be shown as:
As we see it is a 3% growth.
After calculating, the percentage increase will be equal to 3%.
The Latin phrase "per centum," which means "by the hundred," is where the English word "percentage" comes from. Percentage segments are those with a numerator of 100. In other words, it is a connection where the whole is always deemed to be valued 100.
As per the data mentioned in the question,
In the form of the exponential equation.
y = [tex]ab^x[/tex]
The initial value is a, b is the growing (or decay) factor, and (b - 1) × 100% is the growth (or decay) rate,
A further point is that the equation depicts growth if b > 1 and decay if b < 1.
Taking into consideration the aforementioned, we discover that for exponential function,
y = 96(1.03)
a. Since 1.03 > 1, this show the growth in relationship.
b. the value of b = 1.03, so the growth factor is 1.03
c. The rate of growth
= ( 1.03 -1 ) × 100%
= 0.03 × 100% = 3%
d. Since 'a' has a value of 96, the starting value is also 96.
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