Answer:
The monthly growth rate is 3.5%.
Step-by-step explanation:
The exponential growth function is given as follows:
[tex]y=a(1+r)^{x}[/tex]
Here,
y = final value
a = initial value
r = growth rate
x = time taken
The provided expression for the monthly growth of membership in the new drama club at a school is:
[tex]f(x) = 12\cdot(1.035)^{x}[/tex]
Comparing this function with the exponential growth function:
[tex]a(1+r)^{x}=12(1.035)^{x}\\\\a(1+r)^{x}=12(1+0.035)^{x}[/tex]
Then value of r is 0.035 or 3.5%.
Thus, the monthly growth rate is 3.5%.
