+0

# college algebra

0
285
2
+216

During the period from 2003 through 2010, gold prices doubled every 3 years (approximately).

(a) What was the yearly growth factor for the price of gold during this period? (Round your answer to two decimal places.)  ________.

(b) Explain in practical terms the meaning of the growth factor you found in part (a).

A yearly growth factor of _______  means that to find next year's gold price, ______ (divide, exponential, multiply, increase, decrease) this year's price by _______.

idenny  Mar 14, 2017
Sort:

#1
0

2010 - 2003 = 7 years elapsed

7/3 =2 1/3 number of doublings

2^(2 1/3) =5.04 x 100 =504% increase in price of gold in 7 years.

504% ^(1/7) =5.04^(1/7) =~26% per year - increase in gold price.

Next year's price =This year's price x 1.26

Guest Mar 14, 2017
#2
+216
0

these are wrong. except 1.26

idenny  Mar 14, 2017

### 19 Online Users

We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.  See details