the population of a town is growing at a rate of 1.4% each year. The town currently has a population of 49,000. Assume this rate of change continues. Write an exponential equation to describe the town's population P after t years.

i got P=49,000(.000014)

is this correct?

Question

the population of a town is growing at a rate of 1.4% each year. The town currently has a population of 49,000. Assume this rate of change continues. Write an exponential equation to describe the town's population P after t years.

i got P=49,000(.000014)

is this correct?

anonymous · Answer

Correct is:
$$P=49000*1.014^{t}$$