Exponential growth and decay-Application problems (Remember: growth > y = P(1+r)', decay = y=P(1-r))
1) The student population in a high school increases by 6% a year. When it opened, the
school had 1340 students.
a) Write a formula that models this situation.
b) How many students will there be in 5 years?
c) If the maximum number of students the school can hold is 2400, how many years will
it take to reach that number?