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The number of people in thousands who own a cell phone is a function of the time in years starting in 1990 where p(t) = 20(1.075)^tGrowth or Decay?What is the initial amount of people who own cell phones?Determine the growth/decay rate.

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Solution

[tex]\begin{gathered} 1)\text{ Answer, This is GROWTH } \\ 2)\text{ The initial amount of people wo own a cell phone is },\text{ means when t = 0} \\ P(t)=20(1.075)^t \\ p(t)\text{ = }20(1.075)^0 \\ p(t)\text{ = 20 }\times\text{ 1} \\ p(t)\text{ = 20} \end{gathered}[/tex][tex]\begin{gathered} 3)\text{ To }\det er\min e\text{ the growth/decay rate, we have} \\ p(t)=20(1.075)^t \\ p(t)=20(1+0.75)^t \\ \text{Answer, growth rate is: 0.75 =0.75\%} \\ \end{gathered}[/tex]

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