Which of the following is equal to 5.3?
2 answers:
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Let's assume initial population is in 1999
so, production of passenger cars in Japan is 3.94 million in 1999
so, P=3.94 million
and the production of passenger cars in Japan is 6.74 million in 2009
so, A=6.74 million in t=2009-1999=10 years
now, we can use formula
here , r is interest rate
so, we can plug values
now, we can solve for
so,
the geometric mean annual percent increase is 5.516%............Answer