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Mathematics
OpenStudy (electrochika):

Please Help

OpenStudy (anonymous):

If you give me the question i will :P

OpenStudy (electrochika):

Ok, teacher, I get that when I have bacteria growing at 6% per day, the formula I use is \[1.06^x\] . And I get that if I want to figure out the bacteria growth in 2 hours, I use 1.062/24, because two hours is 2/24ths of a day. What I don't get is why I can't use the same idea for money. If I have money growing at 6% per year, I can use\[1.06^x\] , but if it's compounded monthly, I can't just put in 1.062/12 to figure out two months. I have to use(1+.06/12)^12*2/12 !!. Why is it different and how do I know when to use which?

OpenStudy (electrochika):

That is my question

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