The expression 11 (1.022) ^t11 (1.022)

models the per capita gross domestic product (GDP) of the US, in thousands of dollars, as a function of the number of years since 195019501950.

What does 1.022 represent in this equation

Question

Sage Parker

Mathematics

29 May, 09:49

The expression 11 (1.022) ^t11 (1.022)

models the per capita gross domestic product (GDP) of the US, in thousands of dollars, as a function of the number of years since 195019501950.

What does 1.022 represent in this equation

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Answers (1)

Know the Answer?

Jeramiah Mendoza · Answer 1

Answer: growth factor = 1.022

Step-by-step explanation:

The expression 11 (1.022) ^t is an exponential expression where the rate of increase is 2.2%

What 1.022 represent in this equation is the growth factor of per capita gross domestic product (GDP) of the US

The expression 11 (1.022) ^t11 (1.022)models the per capita gross domestic product (GDP) of the US, in thousands of dollars, as a function of the number of years since 195019501950.What does 1.022 represent in this equation

The expression 11 (1.022) ^t11 (1.022)

models the per capita gross domestic product (GDP) of the US, in thousands of dollars, as a function of the number of years since 195019501950.

What does 1.022 represent in this equation