GreenHerbz206 GreenHerbz206

17-12-2018
Mathematics

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What is the growth factor of the following example? Assume time is measured in the units given.
Water usage is increasing by 3% per year.

What is the growth factor of the following example Assume time is measured in the units given Water usage is increasing by 3 per year class=

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Professor1994 Professor1994

17-12-2018

Answer:

The growth factor is option c. 1.03 per year

Step-by-step explanation:

Growth rate: r = 3% = 3 / 100 → r = 0.03

Growth factor: b = 1+r

Replacing r by 0.03 in the formula above:

b = 1+0.03

b = 1.03

Answer: The growth factor is 1.03 per year

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