Answer:
Step-by-step explanation:
From the given information:
(a)
Since growth quantity is not continuous
[tex]Q(t) = 150 (1.07)^t[/tex]
For t = 10
[tex]Q(10) = 150 (1.07)^{10}[/tex]
[tex]\mathbf{Q(10) = 295.073}[/tex]
(b)
Here, for a continuous growth rate, the growth quantity can be computed in terms of initial quantity and the growth rate.
i.e.
[tex]Q(t) = 150 e^{0.07t}[/tex]
At t = 10 for a continuous growth rate;
[tex]Q(10) = 150 e^{0.07 \times 10}[/tex]
[tex]Q(10) = 150 e^{0.7}[/tex]
[tex]\mathbf{Q(10) = 302.063}[/tex]