Answer :
Answer:
Step-by-step explanation:
To determine the growth rate from the function
P=8(1.23) t, we need to analyze the base of the exponential term, which is 1.23.
In the general exponential growth formula
=(1+)P=P 0
(1+r) t , where:
0
is the initial amount (which is 8 in this case),
r is the growth rate,
t is the time period.
Here, the base of the exponential term
1.23
1.23 can be expressed as
1+r. Thus, we have:
1.23=1+r
To find
r, we subtract 1 from both sides:
r=1.23−1
r=0.23
Therefore, the growth rate
r is 0.23, or 23%.
So, the growth rate is 23%.
