SOLUTION: Suppose a certain population increases by 20% every ten years. By what percent does the population increase each year (assuming a constant growth rate)? (Hint: the answer is not

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: Suppose a certain population increases by 20% every ten years. By what percent does the population increase each year (assuming a constant growth rate)? (Hint: the answer is not      Log On


   

Question 973696: Suppose a certain population increases by 20% every ten years. By what percent does the population increase each year (assuming a constant growth rate)? (Hint: the answer is not 2%.)
Show your work. Round to the nearest hundredth of a percent.
I believe they are asking for me to use the equation A = Pe^(rt)
Thank you!!
Answer by josgarithmetic(39628) About Me  (Show Source):
You can put this solution on YOUR website!
Ten years pass:
1.20=1%2Ae%5E%28r%2A10%29;
Solve for r.



r=ln%281.2%29%2F10