Question

QUICK HELP: The population of the Tallahassee metropolitan area was 385,639 at the end of 2017 with a growth rate of 2.73%. Using the exponential growth formula, y=b(1+r)^t, sketch the graph that represents the situation. Label the axes, y-intercept and the point that represents the projected population at the end of 2025.

Answer 1

see the explanation

Explanation:

Let

t ---> the number of years since 2017

y ---> the population of the Tallahassee metropolitan area

we have

`y=b(1+r)^t`

we have

`b=385,639\ people` ---> initial value or y-intercept (population for t=0)

`r=2.73\%=2.73/100=0.0273`

substitute the given values

`y=385,639(1+0.0273)^t`

`y=385,639(1.0273)^t`

For the year 2025

we have

`t=2025-2017=8\ years`

substitute in the formula

`y=385,639(1.0273)^8`

`y=478,635\ people`

using a graphing tool

The graph in the attached figure