Question

The population of Austin, Texas, was about 494,000 at the beginning of a decade. The population increased by 3% each year. Write an exponential growth model that represents the population y (in thousands) t years after the beginning of the decade. Find and interpret the y-value when t = 10.

Answer 1

y(t) = 494 (1.03)^t

y(10) = 663,89

Explanation:

An increase in population by 3% each year means that at the end of each year, the population is 1.03 times what it was at the start of the year

This increase in population continues for t years

Exponential growth model that represents the population y (in thousands) t years after the beginning of the decade is

y(t) = 494 (1.03)^t

Where,

y = population

t = number of years

Find y when t = 10

y(t) = 494 (1.03)^t

y(10) = 494 (1.03)^10

= 494 ( 1.3439)

= 663.8866

Approximately y(10) = 663.89

This means that after 10 years from when the population was 494,000, it increased to 663,89.