NEED HELP ASAP PLEASE HELP!!!!!!!!
2 answers:
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Answer:
20%
Step-by-step explanation:
To find growth rate in compound growths, we can look at a general formula. Shown below:
Where a is the initial amount
b is the growth factor
x is time
In our formula given, we see that b = 1.2
<em>What growth does this represent??</em>
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Well, the amount that is OVER 1, is the growth. Simple!
So, we take the value of b and then subtract 1 from it. Then we multiply that answer with 100 to get a PERCENTAGE GROWTH RATE. Let's do this on b:
b = 1.2
b - 1 = 1.2 - 1 = 0.2
0.2 * 100 = 20
Which is 20%!
So the growth rate is 20%