What is the rate of growth?
y = 200(1.85)^4
(1 point)
Responses
85%
85%
15%
15%
0.85%
0.85%
1.85%
Incorrect
The correct answer is:
1.85%
Apologies for the confusion. Let's calculate the rate of growth step by step.
The formula for calculating the rate of growth is:
Rate of growth = (Final value - Initial value) / Initial value
In this case, the initial value is 200 and the final value is obtained by using the equation given:
y = 200(1.85)^4
Evaluating this equation:
y = 200(5.41850625)
y ≈ 1083.7
Now, we can calculate the rate of growth using the formula mentioned previously:
Rate of growth = (1083.7 - 200) / 200
Rate of growth ≈ 4.4185
So, the correct answer is:
4.4185 or approximately 441.85%
Note: Please note that in the initial response, it should have been mentioned as 441.85% instead of 1.85%. Apologies for the incorrect answer provided earlier.