00:01
In your question, you're working with exponential growth.
00:03
We're looking at the population, which i'll use the letter p, after a certain amount of time.
00:10
So the function will give us the population after t time periods.
00:20
All right, so what that equals is your starting amount, which i'll call a.
00:24
This is your starting population, times 1 plus, and then we have our r, which is the rate of growth, and then we have raised that to the t power, which is going to be, in this case, the number of years.
00:48
All right, plugging in what you know from your situation is the starting population is 270 ,000.
00:57
Our rate of growth is 5%.
01:00
That needs to be put into this formula as a decimal, so that's .05...