Find the annual percent increase or decrease that y
Can you please check my answers and provide an explanation if I'm incorrect? Thank you! I am trying to determine the annual percent increase or decrease modeled by the equation ( y = 0.35(2.3)^x ). The options I have are: A. 230% increase B. 130% increase C. 30% decrease D. 65% decrease
I selected option A: 230% increase.
2 Answers
I believe you are right.
If x measures time (in years) then the value of y this year is 0.35·2.3^x, and next year it's 0.35·2.3^(x+1)
0.35·2.3^x · /annual increase/ = 0.35·2.3^(x+1)
2.3^x · /annual increase/ = 2.3^(x+1)
/annual increase/ = 2.3^(x+1) / 2.3^x
/annual increase/ = 2.3 = 230%
edit. I think Ed I is right, but I'm not really familiar with the exact meaning of this term (in english).
1+/annual increase/ = 2.3
/annual increase/ = 1.3 = 130%
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