Question

At the end of year 0, city M has a populations of 23,500 that is growing at a rate of 5% per year. The population of city P over a 4-year period Write an equation that models city M, where x represents the year and y represents the population

Answer 1

Exponential growth with a 5% annual rate gives

y = 23,500(1.05)^x,

where x is the number of years after year 0 and y is the population. (Equivalently, y = 23,500 e^{x ln 1.05}.)