Question

6.4 exponential growth and decay quiz

a population starts at 500 and grows by 6% each year. what will the population be after 1 year?

Explanation:

Identify the given values

Using the Exponential Growth and Growth Rate knowledge points

$$
LATEXBLOCK0
$$

Determine the growth factor

Using the Growth Factor knowledge point

$$ b = 1 + r = 1 + 0.06 = 1.06 $$

Calculate the population after 1 year

Using the Exponential Growth knowledge point

$$ P(1) = P_0 \cdot b^1 = 500 \cdot 1.06 = 530 $$

Answer:

A population starts at 500 and grows by 6% each year. What will the population be after 1 year? <blank>530</blank>