Question

A population grows from 11,000 to 15,000 in three years.

Enter your answers to three decimal places.

Assuming the growth is exponential, find the growth rate and continuous growth rate

Growth rate ______ %?

Continuous rate _________ %?

Answer 1

I guess by growth rate you mean with yearly compounding and continuous means e^kt

if yearly for three years
15 = 11 (1+r)^3

1.3636 = (1+r)^3
log 1.3636 = 3 log (1+r)
1+r = 1.1089
so
r = .109 = 10.9 percent

now if continuous
1.3636 = e^3k
ln 1.3636 = 3 k
k = .103 or 10.3 percent continuous compounding