Find the growth factor of the function y = 750(1.825)4.0.8251.8254750

Eliasetm asked Feb 10, 2023

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Eliasetm asked Feb 10, 2023

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11 votes

Solution:

The growth formula is expressed as

$\begin{gathered} A=P(1+r)^t----\text{ equation 1} \\ where \\ (1+r)\Rightarrow growth\text{ factor} \end{gathered}$

Given the function:

$y=750(1.825)^4---\text{ equation 2}$

By comparison, we have

$\begin{gathered} P=750 \\ t=4 \\ (1+r)=1.825 \end{gathered}$

Hence, the growth factor of the function is

Martin Evans answered Feb 16, 2023

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