Question

Winter 2019 Math 131-02 Project 1- Exponential Growth Finding the current price or quantity of something, and find its recent annual growth rate expressed as a perceet. You may use the Internet or use a book or periodical. For instance, you might find that the median house price in some area is siso and is growing at about 4.1% per year, or you might find that tuition in a state averages $8000 and is growing at 63% per year. Once you find your information, record where you found it, as the project requires a citation For the remainder of the project we will assume this rate of growth does not change. Then you will consider whether that rate of growth remains realistic Work to Include PART I 1. Report your starting price or quantity, and report your growth rate. 2. Give an exponential equation that models the growth of the price or quantity at the given rate. Explain how you found your model 3. Create a table that gives the price or quantity, rounded to the nearest cent or whole number as appropriate, for each of the next 20 years. Your table might start something lke this: Year 2018 2019 2020 Price 51000 $1100 $1210 4. In your paragraph explicitly state the price or quantity after 10 years and after 20 years. S. In your paragraph, compare the prices or quantities at the start, after 10 years, and after 20 years 6. Compare the prices or quantities at the start, after 10 years, and after 20 years. Did anything surprise you? Do you think that it is realistic for the price or quantity to increase in this way? Support your answers in a paragraph or two-with data. For instance, you might include data about wage growth or about the growth in prices (CPI). 7. Calulate the amount of growth of your price or quantity over the 20-year period by subtracting the start value from the end value.

Answer 1

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