A city's population is 1200 and growing at 3% a year.
(a) Find a formula for the population,p, at time t years from now assuming that the 3% per year is as an ANNUAL RATE and a CONTINUOUS ANNUAL RATE.

Question

A city's population is 1200  and growing at 3%  a year.
(a) Find a formula for the population,p, at time t years from now assuming that the 3% per year is as an ANNUAL RATE and a CONTINUOUS ANNUAL RATE.

campbell_st · Answer

this uses the compound interest formula   A = P(1 + r)^N

P is the initial population, r is the growth rate, A is the future population and N is the number of time periods... 

all the information is in the question for you to solve it

anonymous · Answer

well the annual and continous must be different...

campbell_st · Answer

the question is telling you each year the rate of increase will be 3%... continuous means that it will constantly change

anonymous · Answer

yea there are two formulas then.

anonymous · Answer

igot it. nevermind