Question

The total population of ethnic Southeast Asian students from Burma, Laos, Thailand, Vietnam, and Kampuchea at your university is currently 100 students. The administration of the university wants to increase the diversity of the student body and decides to increase the number of students from Southeast Asia by 8 percent each year, (over the prior year's enrollment) for a period of 15 years. How many students from Southeast Asia will be enrolled at your university after the 15 year period

Answer 1

the number of students that enrolled after 15 year is 317

Explanation:

The computation of the number of students that enrolled after 15 year is shown below;

We know that

Future value = Present value × (1 +rate of interest)^number of years

= 100 × (1+8%)^15

= 100 × 1.08^15

= 317

Hence, the number of students that enrolled after 15 year is 317

The same should be considered and relevant