SOLUTION: The population of a city was 161 thousand in 1992. The exponential growth rate was 1.4% per year. A)Find the exponential growth function in terms of t, where t is the number of y

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: The population of a city was 161 thousand in 1992. The exponential growth rate was 1.4% per year. A)Find the exponential growth function in terms of t, where t is the number of y      Log On


   

Question 934732: The population of a city was 161 thousand in 1992. The exponential growth rate was 1.4% per year.
A)Find the exponential growth function in terms of t, where t is the number of years since 1992
P(t)=
B) Predict the population in 2009
C) In what year will the population be 174 thousand?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
The population of a city was 161 thousand in 1992.
The exponential growth rate was 1.4% per year.
A)Find the exponential growth function in terms of t, where t is the number of years since 1992
P(t)= 161000*(1.014)^t
------
B) Predict the population in 2009
t = 0 in 1992
t = 7 in 2009:: P(7) = 161000*(1.014)^7 = 1774567 when rounded up
-----------------------
C) In what year will the population be 174 thousand?
Solve::
174000 = 161000*1.014^t
1.014^t = 1.08075
t = log(1.08075)/log(1.014) = 5.59 years after 1992
Ans: 1998
==============
Cheers,
Stan H.
--------------