Help With a New Subject? (Growth Models)
- Thread starter tym20
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That sure is a nice problem you've got there, but what are your thoughts? What have you tried? I would presume that at some point prior to assigning this problem your class covered what the "explicit exponential model" is. Did you try using it? How far did you get?
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Please (re-)read the Read Before Posting thread that's stickied at the top of each sub-forum, and comply with the rules found therewithin. Specifically, please share with us any and all work you've done on this problem, even the parts you know for sure are wrong. Thank you.
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What do you understand by the explicit growth model?
Do you mean the continuous (or exponential) growth model
[MATH]x_t = x_0 * e^{(rt)}[/MATH]?
What is the primary method for addressing exponential equations: you use what kind of function?
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What do you understand by the explicit growth model?
Do you mean the continuous (or exponential) growth model
[MATH]x_t = x_0 * e^{(rt)}[/MATH]?
What is the primary method for addressing exponential equations: you use what kind of function?
I'd personally use the discrete compounding formula which is f = p * (1 + r) ^ n. Where f is the future value. p is the present value. r is the interest rate per time period. and n is the number of time periods. Can you put your data in the formula and solve it?
Dr.Peterson
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Just to state this explicitly to you, different textbooks use somewhat different terms, so in order to help you with this, we need to know what your book means by "the explicit exponential model". And the best way for you to show us that would be to (a) quote their definition of the model (maybe with their first example), and (b) show your idea of how that would be applied to your problem, so we can see if you understand.