The population of the city of Miami is approximately 463,300 and is increasing at a rate of 3% each year. Use an exponential function to fin
Question
The population of the city of Miami is approximately 463,300 and is increasing at a rate of 3% each year. Use an exponential function to find the population of the city after 7 years. Round to the nearest whole number.
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2022-01-31T05:56:03+00:00
2022-01-31T05:56:03+00:00 1 Answer
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Answer:
The population of the city after 7 years = 569,859
Step-by-step explanation:
The population of the city of Miami = 463,300
The rate of increase in population every year = 3%
The population of the city after 7 years = ?
By formula, [tex]P_{n} = P (1 +\frac{r}{100})^{n }[/tex]
Pn is the population after 7 years
P is the current population = 463,300
r = 3 %, n = 7
[tex]P_{7} = 463300 (1 +\frac{3}{100})^{7 }[/tex]
= 463300 (1.23)
= 569859
The population of the city after 7 years = 569,859