The equation below can be used to model the population of the United States, where p is population in millions and t is time, in years, since 2011.
p = 312(1 + 0.015)t

Which statement is true based on this equation?

A. The population grows at a rate of about 15% per year.
B. The population grows by about 15,000 people per year.
C. The population grows at a rate of about 1.5% per year.
D. The population of the United States shows exponential decay.

Question

The equation below can be used to model the population of the United States, where p is population in millions and t is time, in years, since 2011.
p = 312(1 + 0.015)t

Which statement is true based on this equation?

 	 	 	 
	 	A.	The population grows at a rate of about 15% per year.
	 	B.	The population grows by about 15,000 people per year.
	 	C.	The population grows at a rate of about 1.5% per year.
	 	D.	The population of the United States shows exponential decay.