Question

# Write an exponential function to model each situation. Find each amount after the specified time. A population of 120,000 grows 1.2% per year for 15 years.

Exponential growth and decay
Write an exponential function to model each situation. Find each amount after the specified time. A population of 120,000 grows $$1.2\%$$ per year for 15 years.

$$A(t) = a(1+r)^{t}$$
Substitude a with \\$120,000, r with $$1,2\% = 0.012$$ and t with 15:
$$A(15)=120,000(1+0.012)^{15}$$
$$=120,000(1.012)^{15}\approx 143,512$$