Your friend sends out a chain letter e-mail to 46 people by the next day 56 people have received the letter.

Question

Assuming an exponential growth pattern, by what percentage has the number of people receiving chain letters increased in this time frame?
(Express your answer as a percentage rounded correctly to the nearest tenth.)

Answer 1

54 = 46e^r(1)

1.1739 ≈ e^r

ln 1.1739 ≈ r

0.160 ≈ r