A town has a population of 5000 and grows at 3.5% every year. What will be the population after 15 years, to the nearest whole number? Exponential Functions: y=ab^x
y=ab
x

a=\text{starting value = }5000
a=starting value = 5000
r=\text{rate = }3.5\% = 0.035
r=rate = 3.5%=0.035
\text{Exponential Growth:}
Exponential Growth:
b=1+r=1+0.035=1.035
b=1+r=1+0.035=1.035
\text{Write Exponential Function:}
Write Exponential Function:
y=5000(1.035)^x
y=5000(1.035)
x

Put it all together
\text{Plug in time for x:}
Plug in time for x:
y=5000(1.035)^{15}
y=5000(1.035)
15

y= 8376.74415
y=8376.74415
Evaluate
y\approx 8377
y≈8377