Mathematics, 22.12.2020 05:50 ale3133

The expression 11(1.022)^t models the per capita gross domestic product (GDP) of the US, in thousands of dollars, as a function of the number of years since 1950.
What does 1.022 represent in this expression?

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The expression 11(1.022)^t models the per capita gross domestic product (GDP) of the US, in thousand...

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The expression 11(1.022)^t models the per capita gross domestic product (GDP) of the US, in thousands of dollars, as a function of the number of years since 1950. What does 1.022 represent in this expression?

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Another question on Mathematics

The expression 11(1.022)^t models the per capita gross domestic product (GDP) of the US, in thousands of dollars, as a function of the number of years since 1950.
What does 1.022 represent in this expression?