Question

Give the starting value a, the growth factor b, and the growth rate r if Q = abt = a(1 + r)t . Write r as a percent. Q=79(1.002)^t

Answer 1

In the equation Q = 79(1.002)^t, the starting value is 79, the growth factor is 1.002, and when calculated, the growth rate r, expressed as a percentage, is 0.2%.

Step-by-step explanation:

The equation given is Q = 79(1.002)^t, which describes exponential growth over time. In this equation, the starting value a is 79, the growth factor b is 1.002, and the growth rate r needs to be expressed as a percentage. To find r, we take the growth factor b and subtract 1, then convert to a percent. Therefore, r = (1.002 - 1) × 100% = 0.2%. The growth rate r is an important concept in exponential growth, used to describe how quickly a quantity is growing over any given period.