A City Was Incorporated in 2004 with a Population of 25,000

question 14

Essay

A city was incorporated in 2004 with a population of 25,000. It is expected that the population will increase at a rate of 2% per year. The population n years after 2004 is given by the sequence $P _ { n } = 25000 ( 1.02 ) ^ { n }$
(a) Find the first 5 terms of the sequence.
(b) Find the population in 2014.

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Definitions:

Core CPI

A measure of the underlying trends in the Consumer Price Index, excluding food and energy prices because they can fluctuate widely from month to month.

Consumer Price Index

An index measuring the change over time in the price of a basket of consumer goods and services, often used to assess inflation.

Year 3 Dollars

A term used to adjust financial figures according to inflation or deflation, making them comparable to the value of money in the third year of a specific reference period.

Food Expenditures

The amount of money spent by households or individuals on food products, either at home or in dining establishments.