You were introduced to the concept of exponential functions that can be used to model growth and decay. Recall what you learned in The Number lecture. In this exercise, you will use a Microsoft Excel spreadsheet to calculate the exponential growth of a population of your choosing. (If you use the linked spreadsheet below, it is recommended that you consider relatively small populations and not those of entire nations.)
In the spreadsheet, perform the following operations:
Now that you’ve completed your analysis, it is now time to report the results and examine your findings.
In a Microsoft Word document, respond to the following:
Use the exponential equation: Future value = Present value * exp(rt)
Note: The spreadsheet performed these calculations for you, so you can check the answer you obtain with those in the spreadsheet. In order to perform this calculation, you’ll need to have access to a scientific calculator that will have an ex button in order to perform the exp(rt) calculation. There are a number of free scientific calculators available over the Internet. Additionally, all smartphones have calculator apps that have a scientific mode. Check with your instructor for a list of currently available free options if you do not own a scientific calculator.
For this assignment, you will submit a spreadsheet and a report. The spreadsheet will be the Microsoft Excel file containing your analysis. Name your Microsoft Excel file as follows: LastnameFirstInitial_M5_A1.xls.
The report will be a Microsoft Word document in which you will address all of the questions in this assignment in the form of a narrative. Name your Microsoft Word document as follows: LastnameFirstInitial_M5_A1.docx.