Calculate the annual interest for a $10,000 Treasury bond with a current yield of 3% that is quoted at 106 points.
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Answer:
Step-by-step explanation:
The populational growth is exponential with a factor of 1.12 each year. An exponential function has the following general equation:
Where 'a' is the initial population (25,000 people), 'b' is the growth factor (1.12 per year), 'x' is the time elapsed, in years, and 'y(x)' is the population after 'x' years.
Therefore, the function P(t) that models the population in Madison t years from now is: