Question

The population of Mathville appears to be growing linearly. In 2015, the population was 27,430 people. In 2017, the population was 27,990 people. A student is using the equation LaTeX: P_n=22500(1.079)^nP n = 22500 ( 1.079 ) n to predict the annual tuition at her university. She says the formula is based on years after 2018.

a. Explain in a sentence or two what this equation tells us about how the tuition is changing. Do this using both values from the equation in your description. b. What will tuition at this university be in 2022?

Answer 1

a)

tution is increasing 1.079 times each each

b)

for 2022

n = 4

hence

P(2022) = 22500 * 1.079^4

= 30497.78