Problema Solution
The population of a city was 176 thousand in 1992. The exponential growth rate was 1.4% per year. Find the exponential growth function in terms of t, where t is the number of years since 1992.
Answer provided by our tutors
Since the population grows at a rate of 1.4% per year, the yearly growth factor for the function is a = 1 +.014 = 1.014.
Since initially the population is P = 176 thousands, the exponential function is
N(t) = 176 * 1.014^t
N is the population in thousands and t is time in years since 1992.