Twenty years ago a small town in Texas had a population of 10,000. The population has increased 8% each year since then. What is the growth

Question

Twenty years ago a small town in Texas had a population of 10,000. The population has increased 8% each year since then. What is the growth factor that would be used to solve this problem? a. The growth factor would be 8 b. The growth factor would be 0.08 c. The growth factor would be 1.08 d. The growth factor would be 0.92

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    0
    2021-09-04T16:57:54+00:00

    Answer:      c. The growth factor would be 1.08  .

    Step-by-step explanation:

    The exponential growth model is given by :-

    f(x)=A(1+r)^n, where A is the initial value, r is the rate of growth and n is the time period.

    Also, the growth factor = 1+r

    Given: The rate of increase of population = 8%=0.08

    Now, the growth factor = 1+0.08=1.08

    Therefore, the growth factor would be 1.08.

    0
    2021-09-04T16:58:21+00:00

    the growth factor would be 1.08

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