• Jul 18th 2010, 09:54 PM
Dangyo
Question:

The population of the state of New New York is given by an exponential function R=R(b) which has the formula
$\displaystyle R = 15 * 1.08^b$
R is measured in millions, b is time measured in years since 1990.

1. What is the population in 1990?
$\displaystyle R(0) = 15 million$

2. What is the yearly growth factor for R?
$\displaystyle \begin{array}{|c|c|c|c|} 0 & 1 & 2 & 3\\ \hline 15&16.2&17.49&18.89\\ \end{array}$

The yearly growth factor is 1.08. ($\displaystyle 16.2/15 = 1.08$ & $\displaystyle 17.49/16.2 = 1.08$)

3. What is yearly percentage growth rate for R?
Growth Rate is 1.08; yearly growth percentage is 1.08 - 1 = .08 = 8%

4. What is monthly percentage growth rate for R?
Since yearly growth is .08, .08 / 12 would be .006, so about .6% per month

• Jul 18th 2010, 10:16 PM
pickslides
All looks good, be careful of your rounding

0 15.00
1 16.20
2 17.50
3 18.90
4 20.41
5 22.04
6 23.80
7 25.71
8 27.76
• Jul 18th 2010, 10:41 PM
Dangyo
ok thanks =)