Consider the function $y=0.68\left(1.6\right)^x$y=0.68(1.6)x.
Identify what type of function this is:
Exponential growth
Exponential decay
What is the rate of growth?
Consider the function $y=0.98\left(0.2\right)^x$y=0.98(0.2)x.
Luigi purchased a sculpture for $\$2900$$2900, and it is expected to increase in value by $9%$9% per year.
Due to favorable market conditions, a company's annual costs are expected to decrease by $5%$5% per year for the next few years. Their annual costs for the current financial year are $\$322000$$322000.