Question

In 2000 the population of a small village was 2,400. With an annual growth rate of approximately 1.68%, compounded continuously, what will the population be in 2020 according to the exponential growth function?

Answer 1

Answer:

$3,358\ people$  

Step-by-step explanation:

The formula to calculate the exponential growth function is equal to

$f(x)=P(e)^{rx}$  

where  

f(x) is the population  

P is the population in the year 2000  

r is the rate in decimal  

x is number of years since 2000  

e is the mathematical constant number

we have  

$x=2020-2000=20\ years\\ P=2,400\\ r=0.0168$  

substitute in the formula above  

$f(x)=2,400(e)^{0.0168*20}$  

$f(x)=3,358\ people$