Question

the populationgrowth model is y=ce^rt where Y is FV and C is PV . ind the rate of growth in %ages if the population growth in 2001 was 2.3 mill and 2010 3.1 mill

Answer 1

do you know how to start?

Answer 2

well 3.1m = 2.3 (? ^ r(9) ?

Answer 3

okay we have y=ce^(rt) we don't know c or r.

we are trying to find r.

so 2.3=ce^(2001r) [1] and
3.1=ce^(2010r) [2]

to get rid of c we are going to divide [1] by [2]

2.3/3.1=e^(2001r)/e^(2010r)
0.7419=e^(2001r-2010r)
0.7419=e^(-9r)
ln(0.7419)=ln(e^(-9r))
-0.2985=-9r
r=-0.2985/-9
=0.0332

Answer 4

thankss