4 Suppose the population of Tennessee increases by 125 each

4. Suppose the population of Tennessee increases by 1.25 % each year a. What is the l-year growth factor? b. What is the 4-ycar growth factor? What is the 7-year growth factor? c. d. What is the 7-ycar percent change? 5. An investment of $4500 decreases by 3.5% each month. a. What is the 1-month percent change in the investment value? b. Fill in the blank: When the time elapsed since the investment was made increases by l month, the new value of the investment is % of the old value of the investment. What is the I-month growth or decay factor and what does this value tell us about the situation? c. Write a function fornula to model the value of the investment (in dollars) in terms of the time elapsed since the investment was made (in months) d.

Solution

population increases by 1.25% each year

growth factor = ( 1 + 0.25)

a) 1 year growth factor = ( 1+0.25)^1 = 1.25

b) 4 year growth factor = (1.25)^4 = 2.4414

c) 7 year growth factor = (1.25)^7 = 4.76837