Answer :
Answer:
It is growth and the percentage increase is 46%
Step-by-step explanation:
The general form of an exponential function is;
Y = I(1 + r)^n
where Y is the present value, I is the initial, r is the growth or decay ratio, n is the number of times
To know if an exponential function is growth or decay, we need to know the repeating factor
If repeating factor is greater than 1, we have growth, if otherwise we have decay (less than 1).
As we can see in this case, we have r greater than 2, so what we have is growth
To get the percentage increase since it is growth, we equate;
1.46 = 1 + r
r = 1.46-1
r = 0.46 which is same as 46%