Given the following exponential function, identify whether the change represents growth or decay, and
determine the percentage rate of increase or decrease. y=3400(1.97)^x

97% growth rate.

Step-by-step explanation:

Hi, to answer this question we have to analyze exponential function:

A = P (1 + r) t  

Where:

p = initial value

r = growth or decay rate (decimal form)

t= number of time intervals

A = value after t intervals

Replacing with the values given:

y=3400(1.97)^x

Where the term 1.97 = 1 + r

Solving for r:

1.97-1 = r

0.97 =r

Since the rate is positive, it is a  growth rate.

To determine the percentage we have to multiply it by 100

0.97 x 100 = 97%

Feel free to ask for more if needed or if you did not understand something.