Given the exponential growth function f(x)=87(1.02)^x What is the initial value of the function? What is the growth factor, or growth rate of the function (as a percent)? %

87; 2%

Step-by-step explanation:

An exponential growth model is defined as :

F(x) = A( 1 + r)^x

Where;

A = Initial amount,

r = rate of increase

x = time

Comparing the exponential growth function with the exponential growth model given;

f(x)=87(1.02)^x

A = 87 = Initial amount

The growth rate of the model expressed as a percentage :

Taking :

(1 + r) = 1.02

1 + r = 1.02

r = 1.02 - 1

r = 0.02

Expressing r as a percentage :

0.02 * 100% = 2%

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step-by-step explanation: