Question

1. The number of employees at a certain company is 1440 and is increasing

at a rate of 1.5% per year. Write an exponential growth function to model

this situation. Then find the number of employees in the company after 9

years.

Answer 1

Answer:

$y = 1440 e^{0.015 t}$

$y(9) = 1440 e^{0.015*9}= 1648.133$

So then after 9 years we will have approximately 1649 number of employees

Step-by-step explanation:

For this case we want to model the number of employees and we need to use an exponential model given by this general expression:

$y = y_o e^{rt}$

For this case the initial amount is $y_o = 1440$ and the rate $r =0.015$

And then the model would be given by

$y = 1440 e^{0.015 t}$

And if we find the value for t =9 years we got:

$y(9) = 1440 e^{0.015*9}= 1648.133$

So then after 9 years we will have approximately 1649 number of employees