Question

The initial profit is $147. The profit increases by 289% every 12 years.
What is the yearly growth factor?

Answer 1

yearly factor is:(3.89)^1/12 = 1.11986
\[3.89^{1/12} = \sqrt[12]{3.89} \approx 1.11986\]
yearly growth rate is 1.11986 * 100% - 100% = 11.986%

Answer 2

how do you get the 3.89?

Answer 3

oh, sorry.... use 2.89 instead of 3.89 please.

Answer 4

the 3.89 was right. I didn't know how you got it

Answer 5

the initial profit is 100%, since it's increase which means after 12 years it increased 289% plus the original 100% you get 389%, and 389% = 389/100 = 3.89