The Population of a Particular City Is Increasing at a Rate

question 146

Multiple Choice

The population of a particular city is increasing at a rate proportional to its size. It follows the function P(t) = 1 + ke0.12t where k is a constant and t is the time in years. If the current population is 26,000, in how many
Years is the population expected to be 65,000?

• A) 55 yr
• B) 3 yr
• C) 8 yr
• D) 5 yr

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Definitions:

Investment

The allocation of resources, usually financial, in expectation of future returns.

Inventory

The total amount of goods and materials held by a business, intended for sale or used in production.

Inventory Investment

The purchase of goods and materials for future sale or use, regarded as a form of investment by a company.

GDP

Gross Domestic Product, which measures the total value of all goods and services produced within a country’s borders in a specific time period.