QuestionWord Problems: Problem 14 (1 point) In 2010, the population of a country was $1 million and growing at a rate of 1.5% per year. Assuming the percentage growth rate remains constant express the population P. in millions, as a function of t the number of years after 2010. P= f(t)= million people help (formulas) Preview My Answers Submit Answers
Studdy Solution
STEP 1
1. The initial population in 2010 is 1 million.
2. The population grows at a constant rate of 1.5% per year.
3. We are asked to express the population as a function of , where is the number of years after 2010.
STEP 2
1. Identify the formula for exponential growth.
2. Determine the parameters for the formula.
3. Write the population function .
STEP 3
The formula for exponential growth is given by:
where is the initial population, is the growth rate, and is the time in years.
STEP 4
Identify the parameters: - million (initial population) - (growth rate of 1.5% per year)
STEP 5
Substitute the identified parameters into the exponential growth formula:
Simplify the expression:
The population , in millions, as a function of is:
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