Please help ASAP very important People keep their money in a bank account becaus
ID: 301456 • Letter: P
Question
Please help ASAP very important
People keep their money in a bank account because the bank pays interest on their investments. Once a month, , the bank adds money to your account, based on your current balance and the rate of interest. That additional money then becomes part of your balance. Therefore, next month you will interest on the original balance plus the interst from last month.
Many biologist relate the way that money brows in a bank to the way that some populations grow. which model of population growth coresponds best to a model of financial growth 1) an expoential model 2) a geometric model 3) a logistic model 4) a matrix model.
Be sure to relate the assumptions of the model to the process of financtioal growth describes above
Explanation / Answer
Hai,good question, before going to answer, first we have to know how the population increases in different population models.in exponential model and geometrical model, population grows in an ascending manner, there is no limitation for growth,this resembles the financial growth of bank invested money,which always increases by the addition of interest. In logistic growth,population increases in assendindg manner but decreases when it reaches carrying capacity, so we cannot compare this with invested money.next matrix population,here population growth is based on only one type of individual,not only this, some times population decreases or increases, so we can't compare matrix with bank amount .in expontial and geometrical populations the population doubles, for example bacteria in a tray-100,after one hour-200,after2 hour-400,after 3 hours-800.that means population is doubling, in banks amount will not doubles,only interest will be added, so we can't completely compare the population with financial growth.