Answer:
Growth Factor = 2.2317 (rounded to 4 decimal places)
Step-by-step explanation:
The formula we will use is the growth formula, that is:
[tex]F=P(1+r)^t[/tex]
Where
F is the future population (366)
P is present population (164)
r is the growth rate (we need to find this)
"(1+r)" is the growth factor
t is time in years (t=1 given)
Now, substituting, we find:
[tex]F=P(1+r)^t\\366=164(1+r)^1\\\frac{366}{164}=1+r\\2.2317=1+r[/tex]
We haven't boiled down to r = something because we don't want growth rate (r), rather, we want growth factor (which is 1+r). So
Growth Factor = 2.2317
