Use exponent properties to transform exponential expressions and interpret growth/decay rates.
Interpret percent growth from an exponential model
Problem
Interpret the percent growth in the exponential model \(P(t)=400(1.07)^t\).
Big Picture
What this problem is really about
The exponential base gives the full amount retained after each interval, not just the change. We’ll separate the base into one plus a decimal rate, convert that added fraction to a percent, and use the base’s position above one to state the direction and per-interval meaning.
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