The population of a town was 26,000 in 2015 and 30,000 in 2017. Assuming an exponential model, what is the annual percentage inc

Question

3 years ago

6

rease in the population?

2 answers:

marysya [2.9K] · Answer 1 · 2022-01-05T20:03:44+03:00

Answer:

7.4%

Step-by-step explanation:

Exponential growth/decay is modeled as:

A = P(1+r)^t

where A is the final amount, P is the initial amount, r is the rate, and t is time.

If t = 0 represents 2015, and t = 2 represents 2017, then:

26000 = P(1+r)^0

30000 = P(1+r)^2

(1+r)^0 = 1, so P = 26000. Substituting:

30000 = 26000(1+r)^2

1.154 = (1+r)^2

1.074 = 1+r

r = 0.074

The rate of increase is 7.4%.

vodka [1.7K] · Answer 2 · 2022-01-05T18:51:54+03:00

3 0

Answer:

7.4%

Step-by-step explanation: