Problema Solution
There are 6,150 students enrolled at college. Enrollment increases at a rate of 4% per year. How many students will there be in 15 years and how many students were there 8 years ago?
Answer provided by our tutors
let
P = 6,150 student the start amount of students
r = 0.04 or 4%
t = the time passed in years
A = the future number of students
A = P(1 + r)^t
in t = 8 years there will be
A = 6150(1 + 0.04)^8
A = 8,417 students
in t = 15 years there will be
A = 6150(1 + 0.04)^15
A = 11,076 students