Web Reference: The population of a small town can be modelled by the exponential function P(t) = 5000(1.02) t , where t represents the number of years since the current population count. Write a function giving the amount of money in the bank account as a function of time. b. How much money will Tanya have in her bank account after 4 years? c. When will the amount of money in her bank account reach $4500? d. A. Write an exponential growth function to represent this situation. B. What will the population be in 2025? Round your answer to the nearest person. Solution: A. After 1 year, population will be = 3600 + 3600 × 0.04 After 2 years, population will be = 3600 + 3600 × 0.04 + (3600 + 3600 × 0.04) × 0.04 = 3600 (1 + 0.04)2
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