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9. The population of a city in 2015 was 22,250 and in 2020, the population rose to 28,000. Assume that population can be modeled with an exponential function in the form P(t) = P0e^kt, where t is the number of years since 2015. (a) Create the function that models the population in this city. (b) When a city's population reaches 60,000, the city is eligible to receive federal grant money for infrastructure projects. In what year can the city expect to be eligible to apply for these grants? 10. A group of private investors purchased a condominium complex for $2 million. They made an initial down payment of 30% and obtained financing for the balance. If the loan is to be amortized over 15 years at the interest rate of 4.8% per year compounded monthly, find the required monthly payment.

          9. The population of a city in 2015 was 22,250 and in 2020, the population rose to 28,000. Assume that population can be modeled with an exponential function in the form P(t) = P0e^kt, where t is the number of years since 2015. (a) Create the function that models the population in this city. (b) When a city's population reaches 60,000, the city is eligible to receive federal grant money for infrastructure projects. In what year can the city expect to be eligible to apply for these grants? 

10. A group of private investors purchased a condominium complex for $2 million. They made an initial down payment of 30% and obtained financing for the balance. If the loan is to be amortized over 15 years at the interest rate of 4.8% per year compounded monthly, find the required monthly payment.

Added by Elizabeth F.

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