Question

Write an exponential function to model the following situation.

Answer 1

Answer:

For 15 years - $110,000(1.04)^{15}$

After 15 years - $110,000(1.04)^{x+15}$

Step-by-step explanation:

We have that,

Initial population is 110,000 which grows by the rate 4% i.e. 0.04 for 15 years.

Since, the exponential growth is given by $P(1+r)^{x}$,

where P is the initial population, r is the rate of interest and x is the number of years.

Thus, the required population is $110,000(1+0.04)^{15}$ i.e.  $110,000(1.04)^{15}$.

Moreover, after 15 years i.e. x+15 years, the population will be $110,000(1.04)^{x+15}$.

Thus, the population after 15 years is $110,000(1.04)^{x+15}$.