Asked by Alyssa
Suppose that the sales at Borders bookstores went from 70 million dollars in 1989 to 415 million dollars in 1993. What is the continuous percent growth rate, per year, of sales?
Answers
Answered by
Reiny
let sales be
S = 70 e^kt, where S in in millions and t is the number of years since 1989
so when t=4 , S = 415
415 = 70 e^(4k)
5.92857 = e^4k
4k = ln 5.92857
k = ln 5.92857)/4 = .4449
or 44.49% continuous growth.
S = 70 e^kt, where S in in millions and t is the number of years since 1989
so when t=4 , S = 415
415 = 70 e^(4k)
5.92857 = e^4k
4k = ln 5.92857
k = ln 5.92857)/4 = .4449
or 44.49% continuous growth.
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