Question

The population of a city is represented by the function p(t)=33,500(1.014)^t where t represents time in years and corresponds to the year 2000. According to this model, what is the expected population of the city 2015

Answer 1

$p(t) = 33500(1.014)^t\\ \\ t = (2015 - 2000) = 15\\ \\ i.e., p(15) = 33500(1.014)^{15} \\ \\ => p(15) = 33500.38729 \\ \\ => 1297421500$

Answer 2

Replace t with 15 (2015-2000):

$p(15)=33,500(1.014)^{15}\\ \\ p(15)=33,500(3,8729)\\ \\ p(15) \approx 129,742 \ inhabitants$