Question

A research association reported that 3,173,000 gas grills were shipped by various manufacturers in the U.S. in 2000.Shipment increased by 7% per year from 2000-2016.Write a function that models the number of gas grills shipped over time.

Answer 1

If shipments increased by 7% (which is the same as 0.07) per year, then the shipment in a year can be found by multiplying the shipments in the previous year by 1.07.

Therefore, if $x$ represents the number of years since 2000 and $f(x)$ represents the number of shipments, then $f(x)=3173000(1.07)^x$.