QuestionWhat is the monthly growth rate in the expression for a drama club? A. B. C. D.
Studdy Solution
STEP 1
Assumptions1. The function models the monthly growth of membership in the drama club.
. The base of the exponential function,1.035, represents the growth factor.
3. The growth rate is the percentage increase from one month to the next.
STEP 2
The growth factor in an exponential function is1 plus the growth rate. So, to find the growth rate, we subtract1 from the growth factor.
STEP 3
Now, plug in the given value for the growth factor to calculate the growth rate.
STEP 4
Calculate the growth rate.
STEP 5
The growth rate is in decimal form. To convert it to a percentage, we multiply by100.
STEP 6
Now, plug in the calculated value for the growth rate to find the growth rate in percentage.
STEP 7
Calculate the growth rate in percentage.
The monthly growth rate is3.5%.
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