difference between y = a(b)^x and y = a(b)^p/t?

where:

a = initial amount

b = growth rate

x = growth factor

p = period

t = time

How do I know which one to use?

1 Answer

Relevance
  • alex
    Lv 7
    1 month ago

    example

    rate per year = 12%

    compound yearly ---> y = a(1.12)^t , t = number of years

    rate per month = 1%

    compound monthly --> y = a(1.01)^(12t) , t=number of years

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