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
ANSWERED
asked 2020-12-24
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.

Answers (1)

2020-12-25
\(A(t) = a(1+r)^{t}\)
Substitude a with \$120,000, r with \(1,2\% = 0.012\) and t with 15:
\(A(15)=120,000(1+0.012)^{15}\)
\(=120,000(1.012)^{15}\approx 143,512\)
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