Question 13 Unsaved The total population of ethnic Southeast Asian students (fro

Question

Question 13 Unsaved The total population of ethnic Southeast Asian students (from Burma, Laos, Thailand, Vietnam, and Kampuchea) at your university is currently 100 students. The administration of the university wants to increase the diversity of the student body and decides to increase the number of students from Southeast Asia by 8 percent each year (over the prior year's enrollment) for a period of 15 years. How many students from Southeast Asia will be enrolled at your university after the 15 year period? (Please round your answer to the nearest "Whole Student," since the university is unlikely to admit only part of an individual student (such as an arm or a leg) without the rest of him coming along as well.)

A) 317

B) 547

C) 1200

D) 220

Explanation / Answer

We will use the compounding formula here, to ascertain the number of students that would be enrolled after 15 years.

A = P * (1 + r)n

where A is the number accumulated after 15 years, with r as the rate of interest and n as number of periods

A = 100 * (1 + 8%)15 = 317.21

Hence, 317 students would be enrolled in 15th year. Option A is the answer

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.