Question

Using the following model, answer questions 3 - 4:

The population of a small town has been increasing at
1.5% due to an economic boom in the area. The
population was 7,650 in 1995.
3. Write an exponential model for the population in this town in a particular year
4. What is the population in 2017
3)

Answer 1

3. p(t) = 7650(1.015^t)

4. p(22) = 10,615

Explanation:

3. If we let p represent the population t years after 1995, we can write the equation using a growth factor of 1+1.5% = 1.015:

p(t) = 7650(1.015^t)

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4. p(2017 -1995) = p(22) = 7650(1.015^22) ≈ 10,615

The population is modeled to be 10,615 in 2017.