Question

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

Answer 1

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

`1.825`