lecture26 - Math 121 Lecture 26 Chapter 5 Applications of...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 5 Applications of the Exponential and Natural Logarithm Functions Math 121 Lecture 26 ! Exponential Growth and Decay ! Compound Interest ! Applications of the Natural Logarithm Function to Economics
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
§ 5.1 Exponential Growth and Decay ! Exponential Growth ! The Exponential Growth and Decay Model ! Exponential Growth in Application ! Exponential Decay ! Exponential Decay in Application
Background image of page 2
Definition Example Exponential Growth : A quantity, such that, at every instant the rate of increase of the quantity is proportional to the amount of the quantity at that instant
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
( World’s Population ) The world’s population was 5.51 billion on January 1, 1993 and 5.88 billion on January 1, 1998. Assume that at any time the population grows at a rate proportional to the population at that time. In what year will the world’s population reach 7 billion? Since the “oldest” information we’re given corresponds to 1993, that will serve as our initial time. Therefore the year 1993 will be the year t = 0 and the population at time t = 0 is 5.51 (measured in billions). Therefore, the year 1998 will be year t = 5 and the population at time t = 5 is 5.88 (measured in billions). Since the population grows at a rate proportional to the size of the population,
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

This document was uploaded on 09/30/2010.

Page1 / 8

lecture26 - Math 121 Lecture 26 Chapter 5 Applications of...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online