Question

A town’s population increases at a rate of 2.3% every year. The current population is 7,500 people. Which equation models this scenario?

Answer 1

Increasing by a fixed percent each year tells you that you’re working with exponential growth.

Since the population grows by 2.3% each year, the next year’s population will be 102.3% of the previous year.

The starting population (current population is 7500.

P = 7500 (1.023)^t, where P is the population and t is the number of years from today.

Answer 2

7500 ( 1.023 ) ^(x)

Explanation:

x is the number of years that go by