Twenty years ago a small town in Texas had a population of 10 comma 000 The population has increased 8 percent each year since then. What is the growth factor that would be used to solve this problem?
Answer
A
The growth factor would be 8
B
The growth factor would be 0 point 9 2
C
The growth factor would be 1 point 0 8
D
The growth factor would be 0 point 0 8
Explanation
For annual growth, add the rate as a decimal to 1. An 8% increase is 0.08, so the growth factor is 1 + 0.08 = 1.08. Therefore, the correct choice is “1 point 0 8.”
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