1. Identify the initial amount and the growth rate of the following:
Y = 250 (1+0.2)^t
I need help with the whole question
To identify the initial amount and the growth rate in the equation Y = 250(1+0.2)^t, we need to understand the structure of the equation.
In this equation, "Y" represents the final amount that we want to calculate. The initial amount is given by the constant term before the exponential part, which is "250" in this case.
The growth rate can be determined by examining the term inside the parentheses (1+0.2). In this equation, the growth rate equals the quantity added to 1, which is "0.2" or 20%.
So, to summarize:
- The initial amount is 250.
- The growth rate is 0.2 or 20%.
By plugging different values of "t" into the equation (like t = 1, 2, 3, ...), you can calculate the final amount "Y" at different time intervals.
initial: y(0) = ____
note that for each time period, you multiply by 1.02
so, what growth rate is that?