
Joshua V. answered 06/11/20
Experienced Math, Physics, & Mech. Engineering Tutor
Hello Gabrielle,
PART A:
- For the year 2016: t=5
- Enter t=5 into the given equation: P(5) = 13.86*(5)0.535 = 32.79%
PART B:
The question asks for the instantaneous rate of change for the year 2016 (t=5). We need the derivative of P(t) for this. This function requires only the power rule for the derivative. To get the derivative:
- Multiply by the current power and subtract one from it: P'(t) = 13.86*0.535*t0.535-1
- Simplify: P'(t) = 7.4151*t-0.4650
- Rewrite the equation in step #2 to have the variable, and its power, in the denominator with a positive exponent. Positive exponents are considered "simplified." I will use the equation as it appears in step #2, though, to keep things clear while typing the solution.
- Plug in t=5 into the derivative P'(t) => P'(5) = 7.4151*(5)-0.4650 = 3.51 % per year
Let me know if I can help more :)