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The average profit a local store owner
earns on a given day is $200 and is
growing exponentially at a rate of 29% per
year. Write a function to represent profit
after t years, where the monthly rate of
change can be found from a constant in
the function. Round all coefficients in the
function to four decimal places. Also,
determine the percentage rate of change
per month, to the nearest hundredth of a
percent.

The average profit a local store owner earns on a given day is 200 and is growing exponentially at a rate of 29 per year Write a function to represent profit af class=

Respuesta :

MrRoyal

The exponential function is f(t) = 200 * (0.9020)^t

How to determine the function?

The given parameters are:

  • Initial value, a = 200
  • Rate, r = 29% per year

The function is an exponential function.

An exponential function is represented as:

f(t) = ab^t

So, we have:

f(t) = 200 * (29%)^t

Express as decimal

f(t) = 200 * (0.29)^t

Convert time to months

f(t) = 200 * (0.29^(1/12))^t

Evaluate

f(t) = 200 * (0.9020)^t

Hence, the exponential function is f(t) = 200 * (0.9020)^t

Read more about exponential function at:

https://brainly.com/question/11464095

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