Recall that an exponential function, with the x-axis as an asymptote, can be expressed as y = a · mx where a is the initial value and m is the multiplier. Find the initial value, the multiplier, and the time units in each of the following situations. Homework Help ✎
Bread costs $1.87 now and is increasing in price by 2% each month.
A car is worth $12000 now and is depreciating in value by 12% each year.
Bacteria grows at a rate of 30% every hour. There are currently 1000.
A $5000 investment earns 1% interest every month.
Initial value = $1.87, multiplier = 1 + 0.02 = 1.02 , time is in months.
Multiplier will be down 0.12 from 1.0.