Units for rate of change, instantaneous or otherwise
If we multiply a principal amount A0 in dollars ($) by an interest rate r in percentage (%) once, let's say for a month (m), then we have an amount A in dollars per month ($/m)
The problem is that for the devices to agree arithmetically, the hobby rate might ought to be in units of in keeping with month (/m). that is additionally the case if we multiply the hobby rate by using a time frame t in months per year (m/y), then we've an amount in dollars consistent with yr($/y)
Once again, the interest rate would have to be in units of per month (/m) which looks strange. This is still the case for the instantaneous rate of change of the amount with respect to time in dollars per period of time ($/m), which looks a lot like the formula for exponential growth and decay
Another time, the hobby fee could need to be in units of per month(/m). i have continually considered a charge like a scaling element with out wondering plenty of the units, so how am i able to make feel of the gadgets for the above interest charge?