Answer
The growth rate of the function is 0.07
Solution
We are given a growth function Q(t) defined by:
[tex]Q(t)=725(1.07)^t[/tex]
- We are required to find the growth rate of the function.
- The growth rate of the function and the growth factor of the function share a relationship given below:
[tex]\begin{gathered} a=1+r \\ \text{where,} \\ a=\text{growth factor} \\ r=\text{growth rate} \end{gathered}[/tex]
- We know that the growth factor is 1.07, thus, we can find the growth rate as follows:
[tex]\begin{gathered} a=1+r \\ 1.07=1+r \\ \text{Subtract 1 from both sides} \\ 1.07-1=1-1+r \\ \\ \therefore r=0.07 \end{gathered}[/tex]
Final Answer
The growth rate of the function is 0.07
