What does 1.10 represent in the equation of population?

Question

The population of a city after x years us modeled by the equation y=20000(1.10)^x . What does 1.10 represent in the equation?

Answer 1

A value of 1.00 would result in a population that remains constant from year to year. A value of 1.10 (10% more than the constant rate of 1.00) represents a 10% increase for the population each year.