Answer:
An exponential function is given by:
\(y = ab^x\) .....[1]
where, a is the initial amount.
If b > 1, then this is exponentially growth function.
If 0< b< 1, then this is exponentially decay function.
Given the function:
\(y = 6 \cdot (1.07)^x\)
On comparing with [1] we have;
a=6 and b = 1.07
Since, b = 1.07 > 1
Therefore, this is exponentially growth function.
⇒the growth factor(b) = 1.07
Now, find the y-intercept.
y-intercept states that the line crosses the y-axis.
Substitute x = 0 and solve for y;
\(y= 6 \cdot (1.07)^0\)
\(y=6\)
y-intercept = (0, 6)
Therefore, the growth factor(b) = 1.07 and y-intercept = (0, 6)
