Exponential Functions/ Please help out now!!!!!!

Question

At the end of last year, the population of Jason’s hometown was approximately 75,000 people. The population is growing at the rate of 2.4% each year. What is the population of his hometown after 5 years?

Answer 1

General form of an exponential function:

y = a·(1+rate)^t

where:

1. y = population at time t
2. a = starting population = 75,000
3. rate = growth or decay rate expressed as a decimal = 2.4% = 0.024
4. t = time = 5 years

y = a·(1+rate)^t

y = 75,000·(1 + 0.024)⁵

y = 75,000·(1.024)⁵

Use your calculator to compute the answer