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

Question

3 years ago

14

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

Mathematics

2 answers:

Levart [38] · Answer 1 · 2022-04-24T03:57:41+03:00

Levart [38]3 years ago

8 0

The growth factor would be 1.08

In-s [12.5K] · Answer 2 · 2022-04-24T05:13:00+03:00

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.