Question

You have just been elected to the position of city manager in your town, and your main duties are to make recommendations to the future planning committee about additional services needed, capital improvements to be made, and general ideas about how to make the town livable for residents as it continues to grow.

The population of your area is estimated to increase by 10% each year. As of the last census, the population was 15,000. Graph the population function and find out what the population will be 5 years from now and 10 years from now.

In your initial discussion post, include the function you used to describe the population, and the expected population 5 and 10 years from now. Also address the following questions:

• Why is it important to be able to use a function to find this type of information?
• What kind of decisions can be made knowing future projections?
• Thinking about this problem, what are some examples of other information or projections that can be determined using similar function types?

*Please use your own answers not ones that are already existing on the internet*

Answer 1

The solution is based on 2 formulae. If the present value = $p, and if there is a percent increase on this value every year is by R%, then the resultant value of this present value after n years from now, is p(1+R%)ⁿ. Using this concept, the answer is = 15000(1+(10/100))⁵ gives the population after 5 years. For 10 years from now, the resultant value = 15000(1+(10/100))¹⁰. The graph is exponential graph...