Question: PLEASE ONLY ANSWER LETTER C WITH A STEP BY STEP SOLUTION Please explain HOW TO FIND THE CONTINUOUS GROWTH RATE/DECAY RATE (14 points) The number

PLEASE ONLY ANSWER LETTER C WITH A STEP BY STEP SOLUTION

Please explain HOW TO FIND THE CONTINUOUS GROWTH RATE/DECAY RATE

(14 points) The number of passengers taking a cruise vacation during a given year can be modeled by the function P(t) = 11.2(1.12). where t is the number of years since 2001 and P(t) is measured in millions of passengers. a) Does this model represent growth or decay? Give reason for your conclusion. b) What is the annual growth or decay factor in this model? c) What is the annual growth or decay rate? d) What is the continuous growth or decay rate? (Write the exact value)

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