AnswersLVA - Mathematical Modeling - SpringEquations of Exponential FunctionsQuestion 10
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Equations of Exponential Functions

Question 10 • LVA - Mathematical Modeling - Spring

You are working part-time for an electronics company while going to high school. The following table shows the hourly wage, w(t), in dollars, that you earn as a function of time, t. Time is measured in years since the beginning of 2004 when you started working.TIME, t, Years since 2004012345Hourly wage, w($)9.009.9010.9012.0013.214.5What is the growth factor?

Answer
A
0.90
B
1
C
1.2
D
1.1

Explanation

A growth factor is the ratio of one wage to the previous year's wage. For example, $9.90 ÷ $9.00 = 1.1, and the later wages also increase by about this factor (allowing for rounding). So the growth factor is 1.1, choice d.

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