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the population of masterton was 23 000 in 2012. Assume that Masterton population increases at a rate of 2% per year. Write an equation to model the population of masterton (y) based on number of years since 2012(x)

Verified Answer :

So, after a year, the population will be

23 0001.02 (which is 23460 people).

And after two years it will be:

234601.02, which is 23930 people. Another way of writing it is
230001.021.02

so we can generalize: the population of the town, y= 23 000*\(1.02 ^{x}\)

where x is the number of years passed

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