Use an exponential model to solve the problem:
The population of Knoxville is 500,000 and is increasing at the rate of 3.25% each year. Approximately when will the population reach 1 million?
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@satellite73 please help
the population starts at 500000, lets just say at t=0
after the first year, t=1
the population is increased by 3.25%
so the population would be 500000 + 500000 ( .0325)
lets consider the next year t=2
the population increases another 3.25% from the last year
so the population will now be
now considering the 3rd year, t=3
it would be 500000(1.0325)(1.0325)(1.0325)
hopefully you see the pattern by now
so if we were to write this as an equation for "t" years later it would look like
\[P= 500000 (1.0325)^t\]
where P is the total population at "t" years later