Population are often modelled by exponential functions
The population will reach 1000000 people after 26.5 years
The population function is given as:
[tex]P(x) = 692600 \times 1.014^x[/tex]
When the population reaches 1000000 people, we have:
P(x) = 1000000
So, the equation becomes
[tex]1000000 = 692600 \times 1.014^x[/tex]
Divide both sides by 692600
[tex]1.444=1.014^x[/tex]
Take logarithm of both sides
[tex]log(1.444)=log(1.014)^x[/tex]
Apply logarithm to both sides
[tex]log(1.444)=xlog(1.014)[/tex]
Make x the subject
[tex]x = \frac{log(1.444)}{log(1.014)}[/tex]
Solve the logarithms of 1.444 and 1.014
[tex]x = \frac{0.15957}{0.00603}[/tex]
Divide
[tex]x = 26.5[/tex]
The value of x, is the number of years the population reaches 1000000 people.
Hence, the population will reach 1000000 people after 26.5 years
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