QUICK HELP: The population of the Tallahassee metropolitan area was 385,639 at the end of 2017 with a growth rate of 2.73%. Using the exponential growth formula, y=b(1+r)^t, sketch the graph that represents the situation. Label the axes, y-intercept and the point that represents the projected population at the end of 2025.

Accepted Solution

Answer:see the explanationStep-by-step explanation:Lett ---> the number of years since 2017y ---> the population of the Tallahassee metropolitan areawe have[tex]y=b(1+r)^t[/tex]we have[tex]b=385,639\ people[/tex] ---> initial value or y-intercept (population for t=0)[tex]r=2.73\%=2.73/100=0.0273[/tex]substitute the given values[tex]y=385,639(1+0.0273)^t[/tex][tex]y=385,639(1.0273)^t[/tex]For the year 2025we have[tex]t=2025-2017=8\ years[/tex]substitute in the formula[tex]y=385,639(1.0273)^8[/tex][tex]y=478,635\ people[/tex]using a graphing toolThe graph in the attached figure