Question

A college with a graduating class of 4000 students in the year 2010 predicts that its graduating class will grow 5% per year.
Using an exponential function to model the number of students y in the graduating class t years after 2010 to predict the number
of students in 2017?

Answer 1

Hello,

$u_0=4000\\u_1=4000*1.05 (for\ year\ 2011)\\\\u_n=4000*1.05^n\\So:\\year\ 2017: u_7=4000*1.05^7=5628,401690625\ \approx{5628}$

Answer 2

Using an exponential function, the number of students y in the graduating class 7 years after 2010 i.e. in 2017 will be 5628.4

What is an exponential function?

y = abˣ, where a is the initial population, b is the rate, and x is the time, is the standard exponential function.

How to solve this problem?

Here initial student population = 4000.

Rate = 5% = (100 + 5)/100 = 1.05

Time = 7 years.

Now, in 2017, the population will be y = 4000 * (1.05)⁷ = 5628.401691 ≅ 5628.4.

Therefore, using an exponential function, the number of students y in the graduating class 7 years after 2010 i.e. in 2017 will be 5628.4

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