In 2003, the population of Charlotte, NC was 584,658. According to the U.S. Census Bureau, Charlotte has been growing at the rate of 4.8% annually since 2003. What equation models the population of Charlotte t years after 2003?

A y = 584,658(1 + 0.048)t
B y = 584,658(0.048)t
C y = 584,658(1 + 0.48)t
D y = 584,658(1 + 4.8)t

Question

In 2003, the population of Charlotte, NC was 584,658. According to the U.S. Census Bureau, Charlotte has been growing at the rate of 4.8% annually since 2003. What equation models the population of Charlotte t years after 2003?

 A   y = 584,658(1 + 0.048)t
 B   y = 584,658(0.048)t
 C   y = 584,658(1 + 0.48)t
 D   y = 584,658(1 + 4.8)t

anonymous · Answer

choice D I guess

anonymous · Answer

That's what I think too. This is basically a compounded interest question. This may help: