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8 April, 06:21

Tuition at a state college was 4,000 in 2014, and is expected to grow at a rate of 7% each year. Write ab exponetial growth model for the expexted tutuon t yesrs after 2014

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  1. 8 April, 06:45
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    Step-by-step explanation:

    We would apply the formula for exponential growth which is expressed as

    y = b (1 + r) ^t

    Where

    y represents the value of the tuition fee after t years.

    x represents the number of years.

    b represents the initial value of the tuition fee.

    r represents rate of growth.

    From the information given,

    P = 4000

    r = 7% = 7/100 = 0.07

    Therefore, the exponential function for the expected tuition t years after 2014 is

    y = 4000 (1 + 0.07) ^t

    y = 4000 (1.07) ^t
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