help me solve this equation please!

Question

The population of a city was 123 thousand in 1992. The exponential growth rate was 1.7% per year. What is the exponential growth function in terms of t, where t is the number of years since 1992

Answer 1

P(t) = P₀·(1 + rate)^t

• P(t) population at time (year) t
• P₀ = population in 1992 = 123 thousand
• rate = growth rate as a decimal = 1.7% = 0.017
• t = years since 1992

 

Plug in the numbers to get the equation.