Below are two situations that can be described using exponential functions. They represent a small sampling of the situations where quantities grow or decay by a constant percentage over equal periods of time. For each situation: Homework Help ✎
Find an appropriate unit of time (such as days, weeks, years).
Find the multiplier that should be used.
Identify the initial value.
Write an exponential equation in the form
that represents the growth or decay.
A house purchased for $120,000 has an annual appreciation of 6%.
Years; 1.06; 120,000
The number of bacteria present in a colony is 180 at noon, and it increases at a rate of 22% per hour.
This problem is similar to part (a) above.