Question

Find the exponential function that satisfies the given conditions. Initial value = 30, increasing at a rate of 13% per year
Would the answer be f(t) = 30 x 0.13t?

Answer 1

f(t) = 30 (1.13)^t would be your correct equation. Think of the compound interest equation. What's the answer given?

Answer 2

Does that make sense?

Answer 3

why would it be 1.13?

Answer 4

well, the compound interest equation is A=P(1+i)^n where A is your final amount, P is your initial amount, i is your interest rate and n is your time. In this case, P=30 and your interest rate would be 0.13 and n=t

Answer 5

does that make sense?

Answer 6

oh okay, it makes sense now thanks.

Answer 7

You're very welcome :)