Answer:
The exponential growth rate=k=0.0489
Explanation:
The formula we are going to use is:
[tex]V=V_oe^{kt}[/tex]
Where:
V is the final value
V_o is the initial value
K is the exponential growth
t is the time
In our case:
V=475
V_o=264
t=12 years
Required:
The exponential growth rate=k=?
Solution:
[tex]475=264e^{k*12}\\k=\frac{1}{12}ln(\frac{475}{264})\\ k=0.0489[/tex]
The exponential growth rate=k=0.0489
