Question

the population growth of a city is modeled by P(t)=240,360e^.012t where t represents the number of years since 2000
a) what is the yearly growth rate as a percent?
b) find the population in 2015
c) how long, to the nearest year, will it take to reach a population of 350,000?

Answer 1

(a) e^0.012 = 1.012, so 1.2% per year
(b) P(15)=240,360e^(.012*15)
(c) just solve 240360 e^.012t = 350000
t = ln(350000/240360)/0.012 = 31.31