If the growth rate of the number of solar collectors is 7% per year, then 1000 units in use in 2010 will grow to _______ units by the year 2040.
A) 1200
B) 2000
C) 4000
D) 8000
E) 20,000

Question

Quizplus · Accepted Answer

Using the formula for exponential growth, the number of solar collectors in 2040 can be calculated as:
N = 1000*(1.07)^30
N = 8000
Therefore, the number of solar collectors in use in 2040 would be 8000.

If the Growth Rate of the Number of Solar Collectors