MATHEMATICAL MODELS FOR NATURAL GROWTH OR DECAY

Associated Differential Equation Mathematical Model

1.) Rate of Change proportional dy
= k$y y t = Aoek t
to the function value at any given dt
time
y Kdependent variable as a func- Ao Kinitial value at t = 0
tion of time t k Krelative growth / decay
t Ktime
Example : After an automobile is 1 year old, its rate of depreciation at any time is proportional to its value
at that time. If an automobile was purchased on March 1, 1993, and its values on March 1, 1994 and
March 1, 1995, were, respectively, $ 7000 and $5800, what is its expected value on March 1, 1999 ?

29 t 5
29
Model : y t = 7000$ Its expected value on March 1, 1999 is y 5 = 7000 z 2733.68
35 35
( t is the time in years after 1994 )
2.) Newton's Law of Cooling - dy
= k$ T KTs y t = Ts CC ek t
rate of change of temperature of a dt
body is proportional to the
difference between its T Ktemperature of the body Ts CC = Ao
temperature and its surroundings T Ktemperature of surroundings
s

Example : A pot of water was initially boiling at 100o and was cooling in air at a temperature of 0o. After
20 min., the temperature of the water was 90o. (a) After how many minutes was the temperature of the
water 80o ? (b) What was the temperature of the water after 1 hr. ?
t /20 t /20 60 /20
9 9 9
Model : y t = 0 C100 (a) 80 = 100 , t = 42.36 (b) y = 100 = 72.9
10 10 10
o
( t is the time in minutes since the pot was boiling at 100 )
3.) Bounded Growth / Learning dy
= k$ A Ky y t = A KB eKk t
Curve - rate of change dt
proportional to the difference of
max. amount that can be attained A Kmaximum attainable value A K B = Ao
and what has been attained thus (asymptotic)
far
Example : A new worker on an assembly line can do a particular task in such a way that if y units are
dy
completed per day after t days on the assembly line, then = k$ 90 Ky , where k is a positive
dt
constant and y ! 90 for all t R 0. On the day the worker starts, 60 units are completed, and on the fifth
day, the worker completes 75 units. How many units does the worker complete on the ninth day ?
t /5 9 /5
1 1
Model : y t = 90 K30 y 9 = 90 K30 = 81.38
2 2
4.) Interest Compounded A t = Aoer t
Continuously
r KAnnual Interest Rate compounded continuously
i KEffective Annual Rate of Interest, i = er K1
Example : How long will it take an investment to double in value if the interest rate is 6 % compounded
continuously ? What is the effective annual rate of interest ?

2$Ao = Ao$e.06 t t = 11.55 years, i = e.06 K1 = 6.18 %