Question 1146528
The explicit exponential model equation is
:
P(n) = P(0) * (1 + r)^n, where P(0) is the initial population, r is growth rate, P(n) is the population after n years
:
Growth rate
:
25000 = 2100 * (1 + r)^18
:
(1 + r)^18 = 25000/2100 = 11.9048
:
1 + r = 11.9048^(1/18) = 1.1475
:
r = 0.1475
:
rate of growth = 14.8%
:
Common ratio
:
common ratio = 1.1475 is approximately 1.148
: