Related Question 3
The population of a city increases at 4% annually, with an additional 1% increase. What is the total annual growth rate?
-
A.
10
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B.
11
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C.
10.25
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D.
10.15
Correct Answer: C
Explanation:
Effective growth = 4% + 1% + (4×1)/100 = 5.04 ≈ 5.04%, but compounded gives 10.25 over period.