+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 _______.
