Given the following exponential function, identify whether the change represents
growth or decay, and determine the percentage rate of increase or decrease per unit
of x, to the nearest tenth of a percent.
y = 700 (2) ^x/4

This equation represents exponential decay. Whenever the base is less than 1, the function represents decay. When the base is greater than 1, the function represents growth. In this case, the base is .97 which is less than 1, representing decay.

The formula for exponential decay is y=a(1-r)x.

r is the decay rate, expressed as a decimal.

In this case, r = .03 which represents 3%!

Given the following exponential function, identify whether the change represents growth or decay, and determine the percentage rate of increase or decrease per unit of x, to the nearest tenth of a percent. y = 700 (2) ^x/4

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Given the following exponential function, identify whether the change represents
growth or decay, and determine the percentage rate of increase or decrease per unit
of x, to the nearest tenth of a percent.
y = 700 (2) ^x/4