Exponential Functions (y=P(1+r)^t)

| October 21, 2015

1) In 2000, there were aprox. 109 million cell phone users in the US. The number of cell Phone users grew to aprox. 300 million by 2010.

 

a)Write an exponential model that represents the number of cell phone users in the US, where t represents the number of 10-year time periods since 2000. The base of the exponential model should be correct to three places after the decimal point.

 

b)What is the percent rate of change every 10 years?

 

c)Change the model to show the growth in the number of cell phone users each year. The base of the exponential model should be correct to three places after the deicmal point.

 

d) what is the percent rate of change each year?

 

e)Use one of the models to determine to the nearest million how many cell phone users will be in the United States by the year 2020

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