
Spencer G. answered 05/12/23
Fresh Math Major Grad, Incoming Grad Student/TA
Hey Ashley. I decided to approach the problem in the following way:
Set kA(t)=A(t+1). We then solve for k, the scaling factor, and use this to determine the percent increase. First,
kA(t)=A(t+1) ⇒ k(100e0.094t)=100e0.094(t+1) = 100e0.094t+0.094=100e0.094te0.094
⇒ k(100e0.094t)=100e0.094te0.094 ⇒k=e0.094
Now, k is a scaling factor. We see that k≈1.098559745. Thus there is an increase from A(t) to A(t+1) of approximately 9.8559745 percent.