Question

If the growth rate is 47% what is the growth factor?

Answer 1

`\qquad \textit{Amount for Exponential Growth} \\\\ A=P(1 + r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{initial amount}\\ r=rate\to 47\%\to (47)/(100)\dotfill &0.47\\ t=\textit{elapsed time}\\ \end{cases} \\\\\\ A = P(1 + 0.47)^(t) \implies A =P(1.47)^t\hspace{5em}\stackrel{ Growth~Factor }{\text{\LARGE 1.47}}`