Chapter 6.4, Problem 1E

To determine

To fill: The blank in the statement.

Answer to Problem 1E

The complete statement is “In the exponential growth function $y=a{\left(1+r\right)}^t$ , the quantity $r$ is called thegrowth rate.”

Explanation of Solution

The exponential growth function is the pattern in which a specific quantity grows by a fixed percent in terms of regular intervals of time.

The exponential function can be depicted as $y\left(x\right)=a{\left(1+r\right)}^x$ .

The value of $a$ represents the initial amount, $r$ represents the growth rate and $x$ represents the number of regular intervals of time.

Therefore, thecomplete statement is “In the exponential growth function $y=a{\left(1+r\right)}^t$ , the quantity $r$ is called thegrowth rate.”