Example in book: Energy consumption for some city is 7000 megawatts (MW) and increases at the rate of 2% per year.
a. Find the function which gives power consumption
The book gives
Which means the growth rate is .0198 or 1.98%. But the growth rate (and I copied pretty much the exact question wording) is 2%. The question says it grows 2% every year. That means the growth rate is 2%! End of story.
But k is the growth rate. The equation is e raised to the growth rate times t. Shouldn't the answer be