Question

PLEASE HELP: p(t)=1.8^t

Answer 1

Initial amount = 1

Rate of growth = 80 %

The value is 18.9 when t = 5

Solution:

The given exponential function is:

$p(t) = 1.8^t$

The exponential function is given as:

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

Where,

y is the future value

a is the initial value

r is the growth rate

t is the number of years

Compare both the functions,

a = 1

$1+r = 1.8\\\\r = 1.8 - 1\\\\r = 0.8$

Thus growth rate is:

$r = 0.8 = 0.8 \times 100 \% = 80 \%$

Evaluate the function when t = 5

Substitute t = 5 in given

$p(5) = 1.8^5\\\\p(5) = 18.89568 \approx 18.9$

Thus the value is 18.9 when t = 5