1. Create and answer two exponential model questions: Formula y = ab^x
2. Create and answer two continuously compounded interest questions: Formula A = Pe ^r*t
Note: Please see the attached file for problems and answers in MS word.
Problem 1. Create and answer two exponential model questions: Formula y = ab^x
Question 1A: The population of a town P(in thousands) for x years after 1990 is given by the function P(x) = 100(1.2)^x
Find the population of the town in the year 2000. Round the answer to nearest thousands.
x = 2000 - 1990 = 10 years
So the population in the year 2000 will be
P = 100(1.2)^10
P = 100 x 6.19173642 = 619.173642
The population of the town will be 619000 in the year 2000.
Question 1B: Find the exponential function y = ...
This is a step by step solution which includes two examples of exponential model and continuously compounded interest each.