Explanation Given information: The continuous percent growth rate of 8%. Formula used: The annual exponential growth or decay function is of the form P = P 0 a t The annual percent decay rate r is given by r = a − 1 . The continuous exponential growth or decay function is P = P 0 e k t . Continuous growth rate is k . Calculation: The continuous percent growth rate of 8%. k = 8 % = 0.08 Comparing P = P 0 a t and P = P 0 e k t . a = e k Substituting k = 0

6th Edition

ISBN: 9781119399322

Author: Hughes-Hallett

Publisher: WILEY

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Chapter 1.6, Problem 37P

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The annual percent growth rate is equivalent to the continuous percent growth rate of 8%.

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Chapter 1.6, Problem 36P

Chapter 1.6, Problem 38P

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Chapter 1 Solutions

APPLIED CALCULUS (WILEY PLUS)

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The annual percent growth rate is equivalent to the continuous percent growth rate of 8%.

Solution Summary: The author explains that the annual percent growth rate of 8.32% is equivalent to 8%.

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To find: The annual percent growth rate is equivalent to the continuous percent growth rate of 8%.

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The annual percent growth rate is equivalent to the continuous percent growth rate of 8%.