Key Terms
- annual percentage rate (APR)
- the yearly interest rate earned by an investment account, also called nominal rate
- carrying capacity
- in a logistic model, the limiting value of the output
- change-of-base formula
- a formula for converting a logarithm with any base to a quotient of logarithms with any other base.
- common logarithm
- the exponent to which 10 must be raised to get is written simply as
- compound interest
- interest earned on the total balance, not just the principal
- doubling time
- the time it takes for a quantity to double
- exponential growth
- a model that grows by a rate proportional to the amount present
- extraneous solution
- a solution introduced while solving an equation that does not satisfy the conditions of the original equation
- half-life
- the length of time it takes for a substance to exponentially decay to half of its original quantity
- logarithm
- the exponent to which must be raised to get written
- logistic growth model
- a function of the form where is the initial value, is the carrying capacity, or limiting value, and is a constant determined by the rate of growth
- natural logarithm
- the exponent to which the number must be raised to get is written as
- Newton’s Law of Cooling
- the scientific formula for temperature as a function of time as an object’s temperature is equalized with the ambient temperature
- nominal rate
- the yearly interest rate earned by an investment account, also called annual percentage rate
- order of magnitude
- the power of ten, when a number is expressed in scientific notation, with one non-zero digit to the left of the decimal
- power rule for logarithms
- a rule of logarithms that states that the log of a power is equal to the product of the exponent and the log of its base
- product rule for logarithms
- a rule of logarithms that states that the log of a product is equal to a sum of logarithms
- quotient rule for logarithms
- a rule of logarithms that states that the log of a quotient is equal to a difference of logarithms