Question

The population of a city was 147 thousand in 1992. The exponential growth rate was 1.4 % per year.

​a) Find the exponential growth function in terms of​ t, where t is the number of years since 1992.
P(t) = ?

Answer 1

`P(t)=147000(1.014)^t`

Explanation:

In general an exponential growth rate can be modeled as:

`m=m_0r^n`

Where m is the final number of "things", m0 is the starting number of "things", r is the growth rate, and n is the number of cycles of growth. Here, P(t) corresponds to m, m0=147000, r = 1.014, and n = t. The exponential growth function is:

`P(t)=147000(1.014)^t`