Last school year, the student body of a local university consisted of 30% freshmen, 24% sophomores, 26% juniors, and 20% seniors
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Using an exponential function, the inequality is given as follows:
The solution is t > 2.9, hence the tax status will change within the next 3 years.
<h3>What is an exponential function?</h3>A decaying exponential function is modeled by:
In which:
- A(0) is the initial value.
- r is the decay rate, as a decimal.
For this problem, the parameters are given as follows:
A(0) = 9400, r = 0.143.
The population after t years is modeled by:
The tax status will change when:
Hence the inequality is:
Then:
Since both logs are negative:
t > 2.9.
The solution is t > 2.9, hence the tax status will change within the next 3 years.
More can be learned about exponential functions at brainly.com/question/25537936
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