The population of a town is modeled by the function
a) Find the population of the town after 5 years.
b) Determine the annual growth rate of the population.
c) Estimate how long it will take for the population to double.
d) Find the population after 20 years and determine the annual growth rate at that time.
a) To find the population after 5 years, we substitute
Using a calculator, we find
The population of the town after 5 years is approximately 5,997.51 thousands.
b) The annual growth rate is given by the exponent of the exponential function. In this case, the annual growth rate is
c) We want to find the time it takes for the population to double. Let
Dividing both sides of the equation by 5000, we have:
Taking the natural logarithm (ln) of both sides to solve for
The population will take approximately 34.66 years to double.
d) To find the population after 20 years, we substitute
Using a calculator, we find
The population of the town after 20 years is approximately 7,323.26 thousands.
The annual growth rate at that time is still