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The population of a town with a 2000 population of 65,476 grows at a rate of 2.9% per year. Create an exponential function of the form Pn = P0 x (1 + r)n.

Question

The population of a town with a 2000 population of 65,476 grows at a rate of 2.9% per year. Create an exponential function of the form Pn = P0 x (1 + r)n.

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Solution

Sure, here is the exponential function for the given problem:

Pn = P0 x (1 + r)^n

Where: Pn is the future population, P0 is the initial population, r is the rate of growth, and n is the number of years.

Given: P0 = 65,476 (the population in the year 2000), r = 2.9% = 0.029 (the annual growth rate), and n = the number of years after 2000.

So, the function becomes:

Pn = 65476 x (1 + 0.029)^n

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