Answer:
The continuous growth rate is 4.2%.
The annual growth factor is 0.04289.
The annual growth rate is given as 4.23%.
Explanation:
As the complete question is not given, the complete question is found online and the solution is then implemented. The complete question is attached.
The equation is given as
[tex]V=1100e^{0.042t}[/tex]
The continuous growth rate is given as by comparing it with the value of [tex]V=V_oe^{kt}[/tex]
Here K is the continuous growth rate thus K is 0.042. or 4.2%.
The continuous growth rate is 4.2%.
The annual growth factor is given as
[tex]V_o(1+r)^t=V_oe^{0.042t}\\(1+r)^t=(e^{0.042})^t\\1+r=e^{0.042}\\1+r=1.04289\\r=1.04289-1\\r=0.04289[/tex]
The annual growth factor is 0.04289.
The annual growth rate is given as 4.23%.
