The growth in the population of the Town of Slave Lake since 1996 is

Question

given with the function of 𝑃(𝑛) = 7000 (1.08)
𝑛
, determine the:
(5 marks)
- Initial population of the Town of Slave Lake _______________
- Growth or decay factor___________________
- Growth or decay rate __________________
- Population of the Town of Slave Lake in the year 2020 _______________
- To the nearest whole the did the population of the Town of Slave Lake double

Answer 1

- Initial population of the Town of Slave Lake: P(0) = 7000 (1.08)^0 = 7000

- Growth or decay factor: 1.08

- Growth or decay rate: 8%

- Population of the Town of Slave Lake in the year 2020: P(2020) = 7000 (1.08)^24 = 7000 (5.074)

Population in 2020 ≈ 35,518

- To the nearest whole year, the population of the Town of Slave Lake doubled in year 2008.