Bob opened a new furniture store, and his daily sales are modeled by f(x) = 1000(1.15)x. determine the rate of growth.
1000%
115%
15%
85%

15%

Step-by-step explanation:

We know that the exponential growth equation is given by :-

, where A is the initial amount , r is the rate of growth and t is the time period.   (1)

Given : Bob opened a new furniture store, and his daily sales are modeled by   (2)

Comparing (1) and (2), we get

Subtract 1 from both sides , we get

In percent ,

Hence, the rate of growth. = 15%