
#1
Oct2804, 10:12 PM

P: 25

Hello, my problem is:
Let Q(t) = 8(0.87)^t Find the annual and daily growth rate. Can anyone tell me how to set this up? I don't want you to show me the whole problem, just the 1st step. Thanks a ton!!! 


#2
Oct2804, 11:40 PM

P: n/a

what units does t have? years?




#3
Oct2904, 12:43 AM

P: 25

t=months in the equation



#4
Oct2904, 12:59 AM

P: n/a

Annual and daily growth rate
Ok so how many t in a year? How many t in a day? Just sub those relationships back into the equation and you got your answers.




#5
Oct2904, 01:03 AM

P: 25

OK, this is what I tried. 8(0.87)^12 and I get 1.50425. I also tried 8(0.87)^(1/12) and I get 7.46. I also tried using 0.13 in replace of 0.87. As you can see, I have tried everything I can think of and tried to manipulate this all I can. Am I using the right numbers? Or, am I setting up the equation incorrectly?



#6
Oct2904, 01:36 AM

P: n/a

Think about how to convert months to years. t months * 1 year/12 months = t years. I hope I didn't lose you when I multiplied by that constant. I'm saying your second formula is right.



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