The population of a town grew from 20,000 to 28,000. The continuous growth rate is 15%. The equation 20,000e^0.15t=28000 represe
nts the situation, where t is the number of years the population has been growing. About how many years has the population of the town been growing? Use a calculator and round your answer to the nearest whole number
The equation is: 20,000 * e^(0.15 t) = 28,000 e^( 0.15 t ) = 28,000 : 20,000 e^( 0.15 t ) = 1.4 0.15 t = ln 1.4 0.15 t = 0.3365 t = 0.3365 : 0.15 t = 2.24 ≈ 2 Answer: A ) 2 years.