I need help finding the annual percent growth. Here are the questions:
(a)What is the continuous percent growth rate for the function P=10e^0.14t?
(b)Write this function in the form P=P(base 0)a^t to answer the next question. what is the annual (not continuous) percent growth rate for this function?
My answers (in bold/underline) so far:
(a)The continuous growth rate is 14%
(b)The annual percent growth rate is ???%. (Round the answer to 1 decimal place.)
Any help is appreciated! This problem has been frustrating for me.