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Students may miss that the problem specifies that the value from the equation represents thousands of people. Suggest a closer reading and thinking about whether a population for the country in 1790 of 4,000 makes sense.
Focus the discussion on how students found the percent increase per decade and per century. Ask students:
Explain that in situations characterized by exponential change by a percentage, people sometimes refer to the percent change as a growth rate. (In previous lessons, this idea was called interest rate in the specific context of interest on savings or debt, but growth rate is a more general term.)
Make sure that students understand how growth rate is related to growth factor. For example, in the equation , the growth factor is 1.031, and the growth rate is 0.031, which can also be expressed as 3.1%.
To connect the key ideas in this lesson and the past few lessons, discuss questions such as:
Here are three expressions and three descriptions. In each case, \$1,000 has been put in an interest-bearing bank account. No withdrawals or other deposits (aside from the earned interest) are made for 6 years.
Sort the expressions and descriptions that represent the same amounts of interest into groups. One group contains more than two expressions. One of the descriptions does not have a match. Write an expression that matches it.
Some students may need a reminder that semi-annually means twice per year, or every 6 months.
Students may not understand the denominator of the fraction included in the expressions. Help them to see that the 7% interest for the year is split into smaller percentages calculated more than once per year.
Select previously identified students to share how they made their matches. For each expression, prompt them to discuss the meaning of each part. For example, for , ask: