difference between y = a(b)^x and y = a(b)^p/t?
a = initial amount
b = growth rate
x = growth factor
p = period
t = time
How do I know which one to use?
- alexLv 71 month ago
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