Determine if the equation y = 15(1.35)* represents exponential growth or decay and justify. Hint: Think about the growth and decay equations.​

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Explanation:

The equation is in the form y = a*(b)^x

The 'a' is the initial or starting value. In this case, a = 15.

The b is the base of the exponent which is tied to growth or decay. If 0 < b < 1, then we have decay. If b > 1, then we have growth.

Since b = 1.35, and 1.35 > 1, this means b > 1 and the given equation represents exponential growth.

Solving 1+r = 1.35 leads to r = 0.35. This means the growth rate is 35%