document.write( "Question 253302: The population of a local high school has grown over the past three years from 7,054 to 7,741 students. What has been the rate of increase over that time period? Use the equation A = P(1 + r)t to model the growth where A is the population at the end of a specific length of time, P is the initial population, r is the rate of growth expressed as a decimal, and t is the time in years. Round to the nearest hundredth of a percent \n" ); document.write( "
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The population of a local high school has grown over the past three years from 7,054 to 7,741 students. What has been the rate of increase over that time period? Use the equation A = P(1 + r)t to model the growth where A is the population at the end of a specific length of time, P is the initial population, r is the rate of growth expressed as a decimal, and t is the time in years. Round to the nearest hundredth of a percent.
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\n" ); document.write( "The problem gives the equation:
\n" ); document.write( "A = P(1 + r)^t
\n" ); document.write( ".
\n" ); document.write( "And it also gives:
\n" ); document.write( "A = 7,741
\n" ); document.write( "P = 7,054
\n" ); document.write( "t = 3
\n" ); document.write( ".
\n" ); document.write( "Plug everything in and solve for r:
\n" ); document.write( "A = P(1 + r)^t
\n" ); document.write( "7741 = 7054(1 + r)^3
\n" ); document.write( "7741/7054 = (1 + r)^3
\n" ); document.write( "1.0974 = (1 + r)^3
\n" ); document.write( "1.0315 = 1 + r
\n" ); document.write( ".0315 = r
\n" ); document.write( "or
\n" ); document.write( "3.15% = r \n" ); document.write( "
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