Write an exponential function to model the situation. Find each amount after the specified time. A population of 120,000 grows 1.2% per year for 15 years.

1 answer
Question:

Write an exponential function to model the situation. Find each amount after the specified time. A population of 120,000 grows 1.2% per year for 15 years.

Answers

Exponential growth function is given by f(t) = A(1 + k%)^t; where A is the initial value, k is the growth rate and t is the time period.Therefore, the required function is f(t) = 120,000(1 + 0.012)^t = 120,000(1.012)^tAfter 15 years, the new population is 120,000(1.012)^15 = 120,000 x 1.1959 = 143,512

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