[tex]y=ab^x[/tex]
In a exponential function as above you use the value of b to determine if it grows or decays:
If b>1, the function grows
If 0
The function grows or decays at a rate proportional to the size of b.
For the given function:
[tex]y=530(1.04)^x[/tex]
The function represents a growth (b>1)
To find the percentage of increase (p) use the next:
[tex]\begin{gathered} b>1 \\ b=1+p \\ \\ 1.04=1+p \\ 1.04-1=p \\ \\ p=0.04 \\ \\ p=0.04*100=4 \end{gathered}[/tex]Then, the fuhnction represents a growth and the percentage of increase is 4%
