Answer:
a = 1500
b = 0.97
Step-by-step explanation:
Let's define 2014 as our t = 0.
Then t = 1 will be 2015, and so on.
We know that in 2014 the population was 1500.
It decreases at an annual rate of 3% or 0.03 in decimal form.
Then in 2015, the population was: 1500 - 1500*0.03 = 1500*(0.97)
In 2016, the population was: 1500*(0.97) - 1500*(0.97)*0.03 = 1500*(0.97)^2
We already can see the pattern.
t years after 2014, the population will be:
f(t) = 1500*(0.97)^t
Now, answering the question:
using f(t)=a(b)^t what is the value of a and b?
a = 1500
b = 0.97
