Question

The population of a parish is growing with an annual percentage rate compounded continuously. The population reaches 1.1 times its previous size in 2 years. Find the annual percentage rate according to the exponential growth function

Answer 1

ln(1.1)/2

Explanation:

Answer 2

Growth rate = ln(1.1)/2

Explanation:

Given:

P1 = 1.1 P0

Number of year n = 2

Computation:

P1 = P0[eⁿˣ]

x = growth rate

So,

1.1 P0 = P0[eⁿˣ]

1.1 = eⁿˣ

1.1 = e²ˣ

By taking log

Growth rate = ln(1.1)/2