Math Problem Statement

After years of maintaining a steady population of 32,000, the population of a town begins to grow exponentially. After 1 year and an increase of 8% per year, the population is 34,560. Which equation can be used to predict, y, the number of people living in the town after x years? (Round population values to the nearest whole number.)

Solution

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Math Problem Analysis

Mathematical Concepts

Exponential Growth
Percentage Increase

Formulas

Exponential growth formula y = a * (1 + r)^x

Theorems

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Suitable Grade Level

Grades 9-12