Question

HURRY PLEASE ITS TIMED

In the year 2000, Franklintown had a population of 30,000 people. Its population had decreased by 3% each year since then. Part A: Can this situation be modeled by an exponential decay function, an exponential growth function, or neither? Explain. Part B: If the population continues to decrease at the same rate, what would you expect the approximate population to be in 2016? Show your work.

Answer 1

Part A:
For this case we have a function of the form:
y = A * (b) ^ t
Where,
A: initial amount
b: decrease rate
t: time
Substituting values we have:
y = 30000 * (0.97) ^ t
Answer:
this situation can be modeled by an exponential decay function.

Part B:

We have the following function:
y = 30000 * (0.97) ^ t
For the year 2016 we have to:
t = 16
Substituting values:
y = 30000 * (0.97) ^ 16
y = 18427.6096
Rounding:
y = 18428
Answer:
The approximate population for 2016 is:
y = 18428