A childcare owner has monthly expenses of $400 and believes these will increase each year...
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Finance
A childcare owner has monthly expenses of $400 and believes these will increase each year by 3%. Fill in the table below with the monthly expenses she should expect for the next five years.
Year
Estimated Monthly Expense
0 = now
1
1890
2
2500
3
3000
4
3500
5
4000
Write the recursive formula for her monthly expenses, E
En =
Write the explicit formula for her monthly expenses, E
En =
Use one of the formulas to predict her monthly expenses in year 6.
Provide one reason why it may not be reasonable to assume a 3% increase for each year.
Problem 2
Over the past 10 years (2010 to 2020), the number of children age 5 or under in King Country grew 108,000 to 131,000.
Using the starting value as 108,000 compute the annual growth rate
r =
Write the explicit formula for the Population of children age 5 or under in King County using the 1990 population as your starting value. .
Pn =
Use our formula to predict the number of children age 5 or under in King County in the year 2025.
Do you think it is reasonable to assume that the growth rate will be a steady percentage? If not, give one reason that might contribute to the growth rate changing?
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