Mathematics: Suppose that an investment of $25,000 grows in value at a rate of 3% per year. what is the growth factor for this investment?

Suppose that an investment of $25,000 grows in value

Ответ:

alissa3329

01.01.2022

1.03

Step-by-step explanation:

We have been given that an investment of $25,000 grows in value at a rate of 3% per year. We are asked to find the growth factor for the given investment.

We will use exponential growth function to solve our given problem.

$y=a\cdot b^x$ , where,

a = Initial value,

b = For growth factor b is in form (1+r), where, r represents rate in decimal form.

Let is convert our given rate in decimal form.

$3\%=\frac{3}{100}=0.03$

Upon substituting our given values in exponential growth formula, we will get

$y=\$25,000(1+0.03)^x$

$y=\$25,000(1.03)^x$

Therefore, the growth factor of our given investment is 1.03.

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Ответ:

acoverupoze5th

09.01.2020

Mathematics

)Based on the data provided in Michelle's table, use complete sentences to explain how the average rate of change in Boynton Beach's rainfall for the years 2004-2013 can be found. Use the data provided in the table to calculate the average rate of change in precipitation.

2.)Use complete sentences to explain what the average rate of change means in terms of the average rainfall.

Step-by-step explanation:

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Suppose that an investment of $25,000 grows in value at a rate of 3% per year. what is the growth factor for this investment?

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