the population of mastertown was 23,000 in 2012. assume that mastertowns population increases at a rate of 2% per year. write an equation to model the population of mastertown (y) based on numbers of years since 2012 (x)
2 answers:
The population of mastertown is 23,000 in 2012.
Answer: y = 23000 (1 + 0.02)^x
Step by step solution:
Population of mastertown was 23,000 in 2012
mastertowns population increases at a rate of 2% per year
By using the following equation :
y= a(1+r)^n
a= initial amount
n = the number of years
r= growth rate
Keeping the above statement in mind -> Population of mastertown (y) based on numbers of years since 2012 (x)
a = 23000
An increase by 2%
r = 2/100 = 0.02
So the final equation would be :
y = 23000 (1 + 0.02)^x
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