write an exponential function to model the following situation.
a population of 120,000 grows 3% per year for 15 years.
how much will the population be after 15 years?
write an exponential function in terms of x
after 15 years, the population will be?
The exponential function that models this situation can be written as:
P(x) = P0 * (1 + r)^x
Where:
P(x) represents the population after x years
P0 represents the initial population (120,000 in this case)
r represents the annual growth rate (3% expressed as a decimal, so 0.03)
x represents the number of years
Substituting the given values into the equation:
P(15) = 120,000 * (1 + 0.03)^15
Calculating this equation will give us the population after 15 years.