P= 12e^(-0.02t)
What is the growth rate?

I thought it would be -1.98% because I punched in the e^-0.02 part and got .98 something and then that minus 1 is r so I got -1.98.

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  1. for exponential growth (continuous compounding)

    amount = original * e^rt
    rate = -.02 or -2 percent

    for example if you have ten dollars
    then after one year you will have
    10 e^-.02
    = 10(.980298) = nine dollars and eighty cents
    so each year multiply by .98
    NOT 1.98
    BUT that is an approximation
    It is really .980298 etc
    but growth rate is negative 2%

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  2. Thank you!

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