The US population in 2005 was approximately 296.4 million. Assume the population increases at a rate of $1.34 \%$ per year. What is the formula for $P(t)$, the population for the United States $t$ years after 2005?
A) $P(t)=296.4(0.0134)^{t}$
B) $ P(t)=296.4(1.0134)^{t}$
C) $ P(t)=296.4 e^{1.0134 t}$
D) $ P(t)=296.4 e^{0.0134 t}$

Question

Quizplus · Accepted Answer

The population increases at a rate of $1.34 \%$ per year, so the growth factor is $1+0.0134=1.0134$. The initial population is 296.4 million, so the formula for $P(t)$ is $P(t)=296.4(1.0134)^{t}$.

The US Population in 2005 Was Approximately 296 1.34%1.34 \%1.34% Per Year What Is the Formula For Approximately

The US Population in 2005 Was Approximately 296 $1.34 \%$ Per Year What Is the Formula For Approximately