Chapter 4.1, Problem 2TU

TEST YOUR UNDERSTANDING| FOR EXAMPLE $4.2$

In a small country, the population is initially $1.4\text{million}$. To find next year’s population from this year’s population, we multiply by $1.02$. Find an exponential formula that gives the population $N$, in $\text{millions}$, after $t\text{years}$. When does the population reach $6\text{millions}$?