Say a certain service industry has 78.9 thousand jobs in 2003, but expects to increase at an average annual rate of 2.65 thousan
d jobs yearly from 2003 to 2013. If this holds true, what will be this industry’s percent increase from 2003 to 2013?
2 answers:
Number of years = 10 years
Total number of new jobs = 2.65 thousand x 10 = 26.5 thousand = 26,500
Number of jobs in 2013 = 78,900 + 26,500 = 105,400
% increase = (105,400 - 78,900)/78,900 x 100 = 26,500/78,900 x 100 = 0.3359 x 100 = 33.59%
Answer:
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