Two math students were asked to write an exeponential growth equations that had a starting value of 300 and a growth rate of 2%. Pierre thinks the answer is y=300 (1.02) ^x and Scott thinks that the answer is y=300 (1.2) ^x. Are either of them right and why?

Question

Mathematics

Autumn Contreras

22 November, 11:26

Two math students were asked to write an exeponential growth equations that had a starting value of 300 and a growth rate of 2%. Pierre thinks the answer is y=300 (1.02) ^x and Scott thinks that the answer is y=300 (1.2) ^x. Are either of them right and why?

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Answers (1)

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Kaitlyn Mullen · Answer 1

Pierre is right.

Step-by-step explanation:

A growth rate of 2% means that the values is increasing by 0.02 each year so the multiplying factor is 1.02.

Pierre is correct y = 300 (1.02) ^x.

Scotts answer 1.2 = a growth rate of 20%.