Question

Is the equation P = 500(1.03)n a model of growth or exponential decay?

Answer 1

Growth

Answer 2

P = 500(1.03)^n make sure u add that exponent sigh

Answer 3

sign

Answer 4

\(\large k^n\) increases as n increases for \( k> 1\)
\(\large k^n \) decreases as n increases for \(0 \lt k \lt 1\)
In your case, you have k = 1.03, which is greater than 1, so this function is growth.