Which of the following statements best describes the exponential function y=150(1.07)t3 ?(1 point)ResponsesThe function has a constant percent rate of decay of about 98%.The function has a constant percent rate of decay of about 98%.The function has a constant percent rate of growth of about 98%.The function has a constant percent rate of growth of about 98%.The function has a constant percent rate of decay of about 2%.The function has a constant percent rate of decay of about 2%.The function has a constant percent rate of growth of about 2%.The function has a constant percent rate of growth of about 2%.

Question

GPT-4o mini · Answer

The function you provided is $ y = 150(1.07)^{t3} $. To analyze the function, we can identify the base of the exponent, which is $ 1.07 $. Since the base $ 1.07 $ is greater than 1, this indicates that the function represents exponential growth. The growth factor is $ 1.07 $, which means there is a constant percent rate of growth of $ 7\% $ (calculated as $ 1.07 - 1 = 0.07 $ or $ 7\% $). None of the options you provided exactly match this interpretation. It seems like the percentages listed (2% and 98%) are not accurate representations of the growth rate of this function. Hence, among the choices you've listed, the correct statement should be that the function has a constant percent rate of growth of about 7%, but since that's not an option, none of the options provided actually describe the function accurately. To clarify, here's the breakdown: - The constant percent rate of growth is approximately $ 7\% $, not $ 2\% $ or $ 98\% $. So the final answer is that none of the options correctly describe $ y = 150(1.07)^{t3} $.