Question

What is the growth factor of the following example? Assume time is measured in the units given. What usage is increasing by 3% per year

Answer 1

Looks like some part of the question is missing...
Im guessing you want the compounding interest function.. and you are after a value like the rate..

P=A(1+r)^(t-1)

t = term in this case t=years
r= rate of growth as a decimal percentage IE .03 = 3% or 1+r=1.03
A= starting amount