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Nonlinear Functions

SAT Math· difficulty 3/5

A population grows according to P(t)=500⋅1.04tP(t) = 500 \cdot 1.04^t where tt is years. What is the annual growth rate?

  • A

    4%4\%

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  • B

    0.04%0.04\%

  • C

    104%104\%

  • D

    1.04%1.04\%

Explanation

The base 1.04=1+0.041.04 = 1 + 0.04, so the annual growth rate is 4%4\%.

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