Question

An investment of $200 increases at a rate of 9.5% per year. What is the growth factor, b? I think it's 1.095 due to the keyword "increases" but I just want to make sure.

Answer 1

looks good, but "b" does not mean much to me, unless you are using it in an equation
200*b^n for example gives how much the 200 increases after n years.

Answer 2

I think it's just a random variable.