Answer:
[tex]y = 175000 \cdot {1.025}^{x} [/tex]
Step-by-step explanation:
recall exponential function:
[tex]y = a \cdot {b}^{x} [/tex]
where:
- a is the initial value
- b is the growth
- x is the independent variable
- y is the dependent variable
Finding the exponential function:
firstly,It says In 2010 , Cornfield Farms produced 175,000 bushels of corn. It simply refers that, The initial value is 175,000, therefore,
- [tex]a \implies 175000[/tex]
secondly, It assers that Each year since 2010, their total corn harvest has increased by 2.5% over the previous year, thus
- [tex] b \implies 1 + \frac{2.5}{100} = 1.025[/tex]
finally, just plug in the value of a and b into the function,
[tex]y = 175000 \cdot {1.025}^{x} [/tex]
and we're done!
