Question

The population of a town increased by 10% per year in 2009, 2010, and 2011. If the population of the town at the beginning of 2009 was 40,000, what was it at the end of 2011?

Answer 1

Assuming that the population follows an exponential function, the it will take the form:
y=a(bˣ)
where:
a=initial value
b=growth factor
x=time
thus plugging our values in the equation we get:
y=40000(1.1ˣ)
thus the population in 2011 when t=3 will be:
y=40000(1.1³)
y=53240