Question

The number of students enrolled at a college is 17,000 and grows 5% each year. The initial amount is 17,000The percent rate of change is 5%, so the growth factor is 1+__=__I don't understand how to find the numbers that fill in the blanks

Answer 1

The growth factor is the amount of increasing or decreasing

Since the number of students is increasing by 5% each year

So assume that the number of students is 100%

They increased by 5%

So the new value is 100% + 5%

100% = 1 and 5% = 5/100 = 0.05

So 100% + 5% = 1 + 0.05 = 1.05

The growth factor is 1.05

The missing are 0.05 and 1.05

If you want to find the growth factor add the percent of increase to 100%, then change the percentage to the normal number

Let me give you an example

If your score increases each year by 4%

What is your growth factor?

Your score is 100%

It increases by 4%

`y=17,000(1.05)^x`

This is the equation of growth

17,000 is the initial amount

1.05 is the growth factor

Y is the new value after x years

x is the number of years

`y=a(b)^x`

Where a is the initial amount

b is the growth factor

x is the number of years

y is the new value after x years

`y=17,000(1.05)^(21)`

The answer is 47,361.364 = 47,361