Question

The expression 11(1.022)^t11(1.022)

models the per capita gross domestic product (GDP) of the US, in thousands of dollars, as a function of the number of years since 195019501950.

What does 1.022 represent in this equation

Answer 1

The per capita GDP in the US is multiplied by approximately 1.0221.0221, point, 022 each year.

Explanation:

Answer 2

Answer: growth factor = 1.022

Explanation:

The expression 11(1.022)^t is an exponential expression where the rate of increase is 2.2%

What 1.022 represent in this equation is the growth factor of per capita gross domestic product (GDP) of the US