SOLUTION: Does the equation 'y=11(1.11)^t' model exponential growth or exponential decay? Find the growth or decay factor and the percent per time period. (I know it is exponential growth

Algebra ->  Finance -> SOLUTION: Does the equation 'y=11(1.11)^t' model exponential growth or exponential decay? Find the growth or decay factor and the percent per time period. (I know it is exponential growth      Log On


   

Question 1136694: Does the equation 'y=11(1.11)^t' model exponential growth or exponential decay? Find the growth or decay factor and the percent per time period.
(I know it is exponential growth but I can't seem to find the rest)
Answer by MathLover1(20850) About Me  (Show Source):
You can put this solution on YOUR website!

y=a%2Ab%5Ex
if b%3E1, represents growth function
if 0%3Cb%3C1, represents decay function
in your case
y=11%281.11%29%5Et+
since b%3E1 it is exponential growth function
the b=1.11 is the value which represents growth+factor