Assignment task: Foundations of Quantitative Methods
Antonio A. Lloréns, Ph.D.
Exercises on Exponential and Natural Logarithmic Functions
Problem 1: The population of a country is currently 32 million and is growing continuously at an equivalent rate of 3.5%. What will the population be in 20 years?
Problem 2: A firm launched a new product last year. The current weekly sales are 56,000 units. If sales are expected to grow continually at annual equivalent rate of 12.5%, what will be the expected level of sales 36 weeks from now? Assume that 1 year is exactly 52 weeks.
Problem 3: Current stocks of mineral M are 250 million tons. If stocks are used continually at an annual equivalent rate of 9%, what amount of M will remain after 30 years?
Problem 4: In a country, population is observed to have grown from 50 to 55 million over the last 20 years. What is the annual rate of growth?
Problem 5: World reserves of mineral G are observed to have declined from 830 million tons to 675 million tons over the last 25 years. Assuming this decline to have been continuous, calculate the annual rate of decline and then predict what number of reserves will be left in 10 years.