Find the exponential function that satisfies the given conditions.
-Initial population $= 30,848$, increasing at a rate of $3 \%$ per year
A) $\mathrm { P } ( \mathrm { t } ) = 3 \cdot 30,848 ^ { \mathrm { t } }$
B) $\mathrm { P } ( \mathrm { t } ) = 30,848 \cdot 3 ^ { \mathrm { t } }$
C) $\mathrm { P } ( \mathrm { t } ) = 30,848 \cdot 1.03 ^ { \mathrm { t } }$
D) $\mathrm { P } ( \mathrm { t } ) = 30,848 \cdot 0.03 \mathrm { t }$

Question

Quizplus · Accepted Answer

The correct exponential function for a population starting at 30,848 and increasing at a rate of 3% per year is given by $P(t) = 30,848 \cdot 1.03^t$, where 1.03 represents the growth factor (100% + 3% = 103% = 1.03) and $t$ is the time in years.

Find the Exponential Function That Satisfies the Given Conditions =30,848= 30,848=30,848

Find the Exponential Function That Satisfies the Given Conditions $= 30,848$