math
posted by Juliana .
Hi,
I had a question about exponential growth. The problem says: The population in Woonsocket is 43,500. Every year the population increases by 2%. Write the exponential equation that represents this situation. I put that the equation was 43,500 (1+.2)^y (y standing for how many years go by as the population increases). Would this equation be correct? When I plug in the numbers: 43,500 (1+.2)^1, I got 52,200. That doesn't sound right, considering that the population only increases 2%. Did I do the problem wrong or does anyone know how I can fix it?
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