SOLUTION: Can someone explain me how to do this. Thank you. A national census bureau predicts that a certain population will increase from 34.8 million in 2000 to 56.6 million in 2050. a

Algebra ->  Finance -> SOLUTION: Can someone explain me how to do this. Thank you. A national census bureau predicts that a certain population will increase from 34.8 million in 2000 to 56.6 million in 2050. a      Log On


   



Question 1100412: Can someone explain me how to do this. Thank you.
A national census bureau predicts that a certain population will increase from 34.8 million in 2000 to 56.6 million in 2050.
a) Find exponential function for f(t)=yob^t which t=0 correspond to 2000 and f(t) is in millions.
b) what is the projected population in 2030? 2040?
c) By experimenting with different value of t, estimate the year in which population will reach 54 millions?

Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
yo=34.8
f(t)=56.6=34.8*b^50
divide by 34.8 both sides
1.626=b^50
without rounding, ln of both sides
0.486=50 ln b
divide by 50 both sides
0.0097=ln b
now raise everything to the e power.
b=1.0098
In 2030, t=30
population is 46.6 million
In 2040, t=40
population is 51.40 million.