Given the following exponential function, identify whether the change represents growth or decay, and determine the percentage rate of increase or decrease. y=3100(0.365)^x

Growth

% increase

Decrease of 63.5%.

Step-by-step explanation:

Exponential function:

An exponential function has the following format:

In which y(0) is the initial value and r is the rate of change, as a decimal. If r is positive, it is a increase. If it is negative, it is a decrease.

In this question:

We have that:

So

So a decrease of 63.5%.

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$3720

step-by-step explanation:

taxable income = $31000

as per the 2018-2019 us tax bracket, the tax rate is 12% for an individual whose taxable income is between $9,526 to $38,700.

so, the tax to be paid by him = 12% of 31000

= 0.12 * 31000     [12% converted to decimal as 0.12]

= $3720