What is the formula for calculating growth rate?
Chapter10: Exponential And Logarithmic Functions
Section10.5: Solve Exponential And Logarithmic Equations
Problem 355E: What is the difference between the equation for exponential growth versus the equation for...
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Question
What is the formula for calculating growth rate?
Expert Solution
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Step 1
The formula of the growth rate is defined as:
![Present Past
Past](https://content.bartleby.com/qna-images/answer/87b06835-b420-46ba-9b70-4e7810205c38/21fd0be2-0195-4ae8-8aec-d874684dcc48/n6mgau7.png)
Step 2
The formula of the growth rate in terms of percentage is defined as:
![Present - Past100
Past
|](https://content.bartleby.com/qna-images/answer/87b06835-b420-46ba-9b70-4e7810205c38/21fd0be2-0195-4ae8-8aec-d874684dcc48/6e3pckh.png)
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