A Population Growing at an Annual Rate R Will Triple

question 65

Multiple Choice

A population growing at an annual rate r will triple in a time t given by the formula . If the growth rate remains constant and equals 5% per year, how long will it take the population of the town to triple?

• A) 1.6 years
• B) 22 years
• C) 0.7 years
• D) 9.5 years
• E) 4.8 years

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Definitions:

Percent of Sales Method

A financial analysis technique used to forecast future expenses or account balances as a percentage of sales revenue.

Direct Write-off Method

An accounting method where uncollectible accounts receivable are written off directly against income at the time they are deemed noncollectible.

Uncollectible Receivables

Receivables considered uncollectible by a company and therefore recorded as a loss.

Journalize

The process of recording transactions in the general journal using the double-entry bookkeeping system.