Respuesta :
In order to find the percent increase over the 10-year period, we will use below formula
[tex]\text{Percentage increase }= \left ((1+r)^n-1 \right )\times 100[/tex]
In this formula r represents the rate in decimal, and n represents the time.
From the given directions, we have
r= 0.08, n=10
On substituting these values in the above mentioned formula, we get
[tex]\text{Percentage increase }= \left ((1+0.08)^{10}-1 \right )\times 100\\ \\ \text{Percentage increase }= 115.9 \%[/tex]
Therefore, it will increase by 115.9% over a 10 years period.
The increase over the 10-year period by 115.89%.
Percentage
The amount of something is expressed as if it is a part of the total which is a hundred. The ratio can be expressed as a fraction of 100. The word percent means per 100. It is represented by the symbol ‘%’.
Compound interest
Compound interest is the interest on a loan or deposit calculated based on the initial principal and the accumulated interest from the previous period.
Given
An investment grows by 8% per year for 10 years.
To find
The increase over the 10-year period.
How to find the increase over the 10-year period?
[tex]\rm Percentage\ increases = [(1+r)^n - 1]*100\\\\\rm Percentage\ increases = [(1+0.08)^10 - 1 ]*100\\\\\rm Percentage\ increases = [1.08^10 - 1]*100\\\\\rm Percentage\ increases = [2.1589 - 1 ]*100\\\\\rm Percentage\ increases = 1.1589*100\\\\\rm Percentage\ increases =115.89[/tex]
Thus, the increase over the 10-year period by 115.89%.
More about the percentage link is given below.
https://brainly.com/question/8011401
