Question

The function P(t) = 1001.05)×

Answer 1

we have the function

P(t)=100(1.05^t)

For the year 2010

t=2010-1992=18 years

substitute

P(t)=100(1.05^18)

P(t)=240.66 -------> is in thousands

so

P(t)=240,660

therefore

the answer is'option B (241,000)