Given the exponential function
[tex]f(x)=60(1.07)^x[/tex]Explanation
To find the answer we need to compare the function with the general formula. This is given as
[tex]f(x)=a(1+r)^x[/tex]f(x) = exponential growth function
a= initial amount
r= growth rate
x= number of time intervals
From the given function we will have;
[tex]f(x)=60(1.07)^x=60(1+0.07)^x[/tex]Answer:
Rate =0.07
Since the rate is positive, the function can be classified as a growth
