For the given exponential function there will be an exponential growth of 7%.
A function is defined as the expression that set up the relationship between the dependent variable and independent variable.
we have
[tex]f(x) = 4200(1.07)^x[/tex]
This is an exponential function of the form
[tex]f(x)=ab^x[/tex]
where
a - is the initial value
b - is the base
If b > 1 ----> is a exponential growth
0 < b < 1 ----> is a exponential decay
r is the per cent rate
b = 1 + r
In this problem we have
a = 4200
b = 1.07
We can see that 1.07 > 1 -----> is a exponential growth
Find out the per cent rate
b = 1 + r
r = 1.07 - 1
r = 0.07
r = 7 x 100 = 7%
Therefore the given exponential function there will be an exponential growth of 7%.
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