Question

the bear population increases at a rate of 2% each year there are 1573 bears this year, what is the growth factor b

Answer 1

The population will increase BY 2% each year.
It will increase TO 102% of its previous value each year.

102% is your growth factor,
as a decimal this is $\rm b=1.02$

Hope that helps! :)

Answer 2

Answer:

Using the formula:

$P = P_0(1+r)^t$

where

$P_0$ is the initial population

r is the rate in decimal

b = 1+r is the growth factor

t is the time in years.

As per the statement:

the bear population increases at a rate of 2% each year there are 1573 bears this year,

⇒$P_0 = 1573$, r = 2% = 0.02

then;

$P=1573(1+0.02)^t$

⇒$b = 1+r= 1+0.02 = 1.02$

Therefore, the growth factor b is, 1.02