Question

HELP PLEASEEEE!!! SOMEONE HELP ME FOR ONCE, NO ONE IS ANSWERING MY QUESTIONS AND IM SO FREAKING STRESSED OUT. OH MY GOD SOMEONE PLS IM BEGGING YOU EXPLAIN YOUR ANSWER STEP BY STEP FOR ONCE

In 1985 an antique automobile club had 23,000 members. Since then its membership has grown at an average rate of 5% per year. Assuming this trend continues, how many members will there be in 2020? Round to the nearest thousand.
a) 112,000 members
b) 78,000 members
c) 151,000 members
d) 127,000 members

Answer 1

d) 127,000 members

Explanation:

In this problem we have an exponential function of the form

where a is the initial value

b is the base

The base is equal to b=1+r

r is the average rate

In this problem we have a=23,000 members

r=5%=5/100=0.05

b=1+0.05=1.05

substitute

x ----> is the number of years since 1985

How many members will there be in 2020?

x=2020-1985=35 years

substitute in the function

Round to the nearest thousand

Answer 2

I have come to the conclusion that it is A. 112,000