Question

The population of Jacksonville in 2018 is estimated to be 19,000 people with an annual rate of increase of 3.4%. Which equation models the population of Jacksonville in t years?

Answer 1

Answer:

$P=19,000(1.034)^{t}$

Step-by-step explanation:

Let

P-------> the population of Jacksonville

t----> the number of years since 2018

we know that

The equation that models the population of Jacksonville in t years is

$P=19,000(1+r)^{t}$

we have

$r=3.4\%=3.4/100=0.034$

substitute

$P=19,000(1+0.034)^{t}$

$P=19,000(1.034)^{t}$