Question

Leander planted 100 acres with soybeans and he plans to increase his field size by 3% each year. What will be the size of Leander's field after 5 years? Round to the nearest whole number.

Answer 1

We use the following exponential function, to model the problem:

$S=100(1+0.03)^t,$

where t is the time in years.

Substituting t=5, we get:

$S=100(1.03)^5.$

Computing the above operations, we get:

$S\approx116.$

Answer:

$116\text{ acres.}$