In 2006, the population of a country was 50 million and growing at the rate of 1.8% per year. Assuming the percentage growth rate remains constant, express the population, P (in millions), as a function of t, the number of years after 2006.
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In 2006, the population of a country was 50 million and growing at the rate of 1.8% per year.
Assuming the percentage growth rate remains constant, express the population, $\displaystyle P$ (in millions),
as a function of $\displaystyle t$, the number of years after 2006.
If the population increases at a rate of 1.8% per year,
. . each year's population is 1.018 times the previous year's population.
This is identical to a compound interest problem.
The function is: .$\displaystyle P(t) \;=\;50(1.018)^t$