To model this situation, we can use the formula for exponential growth:
P = P₀(1 + r)^t
Where:
P = final population after t years
P₀ = initial population
r = growth rate per year
t = number of years
In this case, the initial population (P₀) is 140,000, the growth rate (r) is 3% (or 0.03), and we want to find the population after 15 years (t = 15).
Plugging these values into the formula, we get:
P = 140,000(1 + 0.03)^15
Simplifying and calculating, we find:
P ≈ 236,578.75
Therefore, after 15 years, the population will be approximately 236,579.
Write an exponential function to model the following situation.
A population of 140,000 grows 3% per year for 15 years.
How much will the population be after 15 years?
Write an exponential function in terms of x.
After 15 years, the population will be?
1 answer
1 answer