The number of students enrolled at a college is 16,000 and grows 3​% each year. What is the growth factor?

Question

The percent rate of change is 3​%, so the growth factor b is 1+ ____=_____

Answer 1

16000+ .03(16000)

= 16000 + 480

= 16,480 in the next year

if growth is linear, then 16,960 in the following year

S(t) = 16000+480t = student population where t = number of years of growth

but natural growth tends to be compounded

S(t) = 1600(1.03)^t is a more likely model to predict the student population

general formula is

A = P(1+r/n)^nt where r = growth rate = 3% = .03, n = number of compounding periods per year = 1

t= number of years. P = initial population, A= new population after t years

1 + .03 = 1.03 might be the numbers you want for "b"