Exponentials
Growth & Decay
Application 1
Write an equation to model a population that starts at 100,000 and grows 3.5% per year.
Step 1. Determine the initial value. The population starts at 100,000.
a = 100000
Step 2. Write the rate as a growth factor. The population is growing by 3.5%, add this to 100%. 100% + 3.5% = 103.5%, translated to a decimal 1.035
b = 1.035
Step 3. Write the equation.
y = a . bx
y = 100000(1.035)x