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10. The amount of people using a certain product can be modeled by P = 85(1.2) where t is the
number of years since the product was first released. What is the growth rate?
A) 2%
B) 20%
C) 120%
D) 12%

Sagot :

Answer:

B) 20%

Step-by-step explanation:

Exponential equation:

An exponential equation is given by:

[tex]A(t) = A(0)(1+r)^t[/tex]

In which A(0) is the initial amount and r is the growth rate, as a decimal.

In this question:

[tex]P(t) = 85(1.2)^t[/tex]

Growth rate:

We want to find r, so:

[tex]1 + r = 1.2[/tex]

[tex]r = 1.2 - 1 = 0.2[/tex]

The growth rate is of 0.2 = 2%, and the correct answer is given by option B.

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