Here is the answer!
A town's population has been growing linearly. In 2003 the population was 47,000. The population has been growing by 1200 people
1 answer:
You might be interested in
Answer:
Approximately 22.97 years
Step-by-step explanation:
Use the equation for continuously compounded interest, which uses the exponential base "e":
Where P is the principal (initial amount of the deposit - unknown in our case)
A is the accrued value (value accumulated after interest is compounded), in our case it is not a given value but we know that it triples the original deposit (principal) so we write it as: 3 P (three times the principal)
k is the interest rate : 5% which translates into 0.05
and t is the time in the savings account to triple its value (what we need to find)
The formula becomes:
To solve for "t" we divide both sides of the equation by P (notice it cancels P everywhere), and then to solve for the exponent "t" we use the natural logarithm function:
just subsitute
f(4)=4²+3(4)-1
f(4)=16+12-1
f(4)=28-1
f(4)=27
it approaches 27 as x approaches 4