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Annual and daily growth rate

by vt33
Tags: annual, daily, growth, rate
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vt33
#1
Oct28-04, 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!!!
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vsage
#2
Oct28-04, 11:40 PM
P: n/a
what units does t have? years?
vt33
#3
Oct29-04, 12:43 AM
P: 25
t=months in the equation

vsage
#4
Oct29-04, 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.
vt33
#5
Oct29-04, 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?
vsage
#6
Oct29-04, 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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