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today there are 1.388 million childcare workers in 2006
\n" ); document.write( "there will be 1.636 million by 2016.
\n" ); document.write( "what is the percent increase?
\n" ); document.write( "the number of years is equal to 2016 - 2006 = 10 years.
\n" ); document.write( "the equation to find the percent increase per year is:
\n" ); document.write( "f = p * (1+x)^n
\n" ); document.write( "f = the future number of workers
\n" ); document.write( "p = the present number of workers
\n" ); document.write( "x = the annual increase
\n" ); document.write( "n = the number of years
\n" ); document.write( "we have:
\n" ); document.write( "f = 1.636 million
\n" ); document.write( "p = 1.388 million
\n" ); document.write( "n = 10
\n" ); document.write( "x = what we want to find.
\n" ); document.write( "the formula becomes:
\n" ); document.write( "1.636 = 1.388 * (1+x)^10
\n" ); document.write( "divide both sides of the equation by 1.388 to get:
\n" ); document.write( "1.636 / 1.388 = (1+x)^10
\n" ); document.write( "simplify to get:
\n" ); document.write( "1.178674352 = (1+x)^10
\n" ); document.write( "take the tenth root of both sides of the equation to get:
\n" ); document.write( "1.178674352^(1/10) = ((1+x)^10)^(1/10)
\n" ); document.write( "simplify to get:
\n" ); document.write( "1.016574902 = 1+x
\n" ); document.write( "subtract 1 from both sides of the equation to get:
\n" ); document.write( ".016574902 = x
\n" ); document.write( "x is the interest rate.
\n" ); document.write( "to get the percent, multiply the rate by 100% to get:
\n" ); document.write( "interest rate = 1.6574902% per year.\r
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