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It's probably occurred to you by
now that no banks ever have accounts that compound continuously.
They're too smart for that! OK,
so money really never grows continuously... But, animal
populations do! That goes for people, animals and bacteria.
(Yes, there is some overlapping there.)
So, here's the formula for
population growth (I'm just going to change the letters a little):

The
is pronounced "P not."
The little "o" is a zero for time =
0...
when you start.
* time is usually
in hours or years
Let's just do one --
they're really easy!
In
1950,
the world's population was
2,555,982,611. With a
growth rate of approximately
1.68%, what was the population in
1955?
First, let's figure
out what everything is:


Let's ignore the decimal part since it's
not a full person.
So, our guess is
that the world's population in
1955
was
2,779,960,539.
(The actual
population was 2,780,296,616
so we were pretty close.)
We'll be doing
more with populations after I've taught you some more stuff.
YOUR TURN:
At 5pm,
you count 26,300 alien bacteria in your petrie
dish. If the growth rate is
2.7%,
how many bacteria will there be at midnight?
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