a) Let . Write in the form . (Round to three decimal places if needed.)
What is the percent annual decay rate?
percent per year
What is the continuous percent decay rate?
percent
b) Let . Write in the form . (Round to three decimal places when needed.)
What is the percent annual growth rate?
percent per year
What is the continuous percent growth rate?
percent
a) We want to write as a function of form . Consider what you need to do to find the values of and with the following equality: It may be useful to recall the following property of exponents:
For this part, we will use the equation we found in part (a). The percent annual decay rate (since the base is less than 1) is given by the growth factor minus 1. Remember to convert into a percentage.
In the equation , gives the growth/decay rate. Since the problem specifies decay, your answer should be positive. Remember to convert into a percentage.
b) We want to write as a function of form . Consider what you need to do to find the values of and with the following equality: As a hint, you will need to use a logarithm to find the value of .
For the percent annual growth rate and the continuous growth rate, use the same process as in part a).