Question

QUICK HELP: The population of the Tallahassee metropolitan area was 385,639 at the end of 2017 with a growth rate of 2.73%. Using the exponential growth formula, y=b(1+r)^t, sketch the graph that represents the situation. Label the axes, y-intercept and the point that represents the projected population at the end of 2025.

Answer 1

Answer:

see the explanation

Step-by-step explanation:

Let

t ---> the number of years since 2017

y ---> the population of the Tallahassee metropolitan area

we have

$y=b(1+r)^t$

we have

$b=385,639\ people$ ---> initial value or y-intercept (population for t=0)

$r=2.73\%=2.73/100=0.0273$

substitute the given values

$y=385,639(1+0.0273)^t$

$y=385,639(1.0273)^t$

For the year 2025

we have

$t=2025-2017=8\ years$

substitute in the formula

$y=385,639(1.0273)^8$

$y=478,635\ people$

using a graphing tool

The graph in the attached figure