Answer:
A. 8 million
B. 2.53%
Explanation:
A. When t=0, the exponential term has a value of 1, so the function value is 8.
In 1970, the population of New York was 8 million.
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B. The factor multiplying t in the expression is 2.5%, which is the annual growth rate that is being continuously compounded. The result of that compounding is that after 1 year, the population has increased by a factor of ...
e^(0.025·1) ≈ 1.025315...
or by about 2.53%.