Section 5.2b class notes_0

Section 5.2b class notes_0 - is the initial population and...

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Section 5.2b The Natural Exponential Function Objective 4: Solving Applications of the Natural Exponential Function Continuous Compound Interest Formula Continuous compound interest can be calculated using the formula rt A Pe = where A = Total amount after t years P = Principal r = Interest rate per year t = Number of years 5.2.21 How much money will there be in an account at the end of 8 years if $14,000 is deposited at a 7.5% annual rate that is compounded continuously? Exponential Growth A model that describes the population, P , after a certain time, t, is 0 ( ) kt P t P e = where 0 (0) P P =
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Unformatted text preview: is the initial population and k is a constant called the relative growth rate . (Note: k may be given as a percent.) In 1975, a wildlife resource management team introduced a certain rabbit species into a forest for the first time. In 2007 the rabbit population had grown to 6454. The relative growth rate for this rabbit species is 22%. a) How many rabbits did the wildlife resource management team introduce into the forest in 1975? b) How many rabbits can be expected in the year 2021? ( ) kt P t P e = ( 29 0, P...
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