Hi,

Question

I had a question about exponential growth. The problem says: The population in Woonsocket is 43,500. Every year the population increases by 2%. Write the exponential equation that represents this situation. I put that the equation was 43,500 (1+.2)^y (y standing for how many years go by as the population increases). Would this equation be correct? When I plug in the numbers: 43,500 (1+.2)^1, I got 52,200. That doesn't sound right, considering that the population only increases 2%. Did I do the problem wrong or does anyone know how I can fix it?

Answer 1

2 % = 0.02

You multiplyed by 0.2 -- which is 20%.

Answer 2

Thank you. :)

Answer 3

You're welcome. :-)

Answer 4

wow this old question, but 2% as decimal is 0.02. 0.2 or .2 is 20% as decimal.
here is explanation:

43500(1+0.2)^1.

43500(1.2)^1.

43500 * 1.2 = 52,200.

Your work correct. Nothing wrong.