Answer:
N = I ( 1 + 50% )^t
Step-by-step explanation:
Given that The population of Columbus in 2015 was 840,000 people. In 2018 (three years later), The population grew to 972,405 people.
Write an exponential equations that models this situation.
From the question, the following parameters are given :
Initial number of population = 840,000
The new number of population = 972,405
The number of years = 3
Let the initial population = I
The new population = N
And the number of years = t
Since the population is increasing, the exponential equation can be written as
N = I ( 1 + R% )^t
Where R% is the percentage increase.
Solve for R
972405 = 840,000 ( 1 + R% )^3
972405/840000 = ( 1 + R% )^3
1.157625 = ( 1 + R% )^3
( 1 + R% ) = 1.05
Make R% the subject of formula
R% = 1.05 - 1
R% = 0.5
R = 0.5 × 100
R = 50%
Therefore, the exponential equations that models this situation can be expressed as:
N = I ( 1 + 50% )^t
