Question

The number of students enrolled at a college is 15,000 and grows 4% each year. the percentage rate of change is 4%, so the growth factor b is

Answer 1

The growth factor b is 1.04

Explanation:

we know that

In this problem we have a exponential function of the form

`y=a(b^x)`

where

y ---> is the number of students enrolled at a college

x ----> the number of years

a is the initial value or y-intercept

b is the growth factor

b=(1+r)

r is the rate of change

we have

`a=15,000\ students`

`r=4\%=4/100=0.04`

`b=1+0.04=1.04`

therefore

The exponential function is equal to

`y=15,000(1.04^x)`