Suppose the population of a town was 40,000 on January 1, 2010
and was 50,000 on January 1, 2015.
Let P(t) be the population of the town in thousands of people t years after January 1, 2010.
(a) Build an exponential model (in the form P(t) = a*bt ) that relates P(t) and t. Round the value of b to 5 significant figures.
(b) Write the exponential model in the form P(t) = a*ekt. According to this model, what is the growth rate of the population? Your answer should be accurate to four significant figures, and expressed as a percentage. This means that if you obtain k=0.045678, you should type 4.568%
(c) Use the model to estimate the town's population (to the nearest integer) on January 1, 2040.
(d) Estimate the year when the town's population first exceeds 120,000.
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