Westonci.ca is the ultimate Q&A platform, offering detailed and reliable answers from a knowledgeable community. Get detailed answers to your questions from a community of experts dedicated to providing accurate information. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.
Sagot :
The annual growth rate is 4.73 %
The continuous growth rate is 4.62 %
What is exponential growth function ?
A process called exponential growth sees a rise in quantity over time. When a quantity's derivative, or instantaneous rate of change with respect to time, is proportionate to the quantity itself, this phenomenon takes place.
Let us assume:
The initial amount of 1, so results are 2.
Let x be the percent in decimal form
Growth rate per year:
[tex]1(1+x)^{15} = 2[/tex]
Take ln on both the sides
[tex]ln((1+x)^{15}) = ln(2)[/tex]
15*ln(1+x) =0 .693
ln(x+1) = 0.693/15
ln(x+1) = 0.04621
Take anti ln on both the sides
x+1 = 1.0473
x = 1.0473 - 1
x = .0473
x =4.73 % annual growth rate
Continuous growth rate:
[tex]1*e^{15x} = 2[/tex]
[tex]ln(e^{15x}) = ln(2)[/tex]
15x*ln(e) = ln(2)
ln(e) = 1
15x =0.693
x =0 .693/15
x = .0462
x = 4.62 %
To learn more about the exponential growth function from the given link
https://brainly.com/question/13223520
#SPJ4
We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Keep exploring Westonci.ca for more insightful answers to your questions. We're here to help.
