Question

The population in a small town is increasing annually by 2.8%. What is the quarterly rate of population increase?

Answer 1

To find the quarterly rate of population increase, we first need to find the annual rate of population increase in decimal form, which is 2.8% expressed as 0.028.

To find the quarterly rate, we need to divide the annual rate by 4, since there are 4 quarters in a year:

0.028 / 4 = 0.007

Therefore, the quarterly rate of population increase is 0.007 or 0.7%