Question

What is the rate of growth as a percent for 23(1.0032)

Answer 1

`\bf \qquad \textit{Amount for Exponential Growth}\\\\ A=I(1 + r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ I=\textit{initial amount}\\ r=rate\to r\%\to (r)/(100)\\ t=\textit{elapsed time}\\ \end{cases}\\\\ -------------------------------\\\\ \textit{so let's see the amount in the parentheses}\\\\ 1.0032\implies 1+\underline{0.0032}\impliedby (r)/(100) \\\\\\ thus\qquad 0.0032=\cfrac{r}{100}\implies 100\cdot 0.0032=r\implies 0.32\%=r`