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<span>Because <span>t <span>is given in years and 1.08 <span>= <span>1 <span>+ <span>0.08, the annual percent increase
<span>is 8%.
To find the monthly percent increase that gives an 8% annual increase,
<span>use the fact that
t =
<span><span><span><span>
<span><span><span><span>and the properties of exponents to rewrite the
model in a form that reveals the monthly growth rate.</span></span></span>
</span></span></span></span></span></span></span></span></span></span></span></span></span></span>
<span>is 8%.
To find the monthly percent increase that gives an 8% annual increase,
<span>use the fact that
t =
<span><span><span><span>and the properties of exponents to rewrite the
model in a form that reveals the monthly growth rate.</span></span></span>
</span></span></span></span></span></span></span></span></span></span></span></span></span></span>