Answer:
[tex]y = 40000(1.02)^8[/tex]
Step-by-step explanation:
Given
[tex]a = 40000[/tex] -- Initial population
[tex]r = 2\%[/tex] --- Rate
Required
Determine the population in 8 years
The question shows an exponential distribution and the final population will be calculated using:
[tex]y = a(1 + r)^x[/tex]
Where x is the number of years.
So, we have:
[tex]y = 40000(1 + 2\%)^8[/tex]
Convert % to decimal
[tex]y = 40000(1 + 0.02)^8[/tex]
[tex]y = 40000(1.02)^8[/tex]
(b) is correct
