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write the exponential function y=40e^0.06t in the form y=ab^t.

find b accurate to 4 decimal palces.

if t is measured in years, give the % annual growth or decay rate and the continuous % growth or decay rate per year.

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y = 40e^.06t = 40(e^.06)^t = 40*1.0618^t

annual growth rate: 6.18%
continuous rate: 6.00%

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